Foraco International (TSE:FAR) Director Sells C$6,040,000.00 in Stock

Foraco International SA (TSE:FAR) Director Daniel Louis Simoncini sold 2,000,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$3.02, for a total transaction of C$6,040,000.00. Following the completion of the transaction, the director directly owned 10,571,225 shares in the company, valued at approximately C$31,925,099.50. This represents a 15.91% decrease in their ownership of the stock.

Foraco International Stock Performance

Foraco International stock traded down C$0.07 during trading hours on Tuesday, hitting C$3.03. The company had a trading volume of 88,818 shares, compared to its average volume of 231,656. The firm has a market cap of C$296.79 million, a PE ratio of 20.60 and a beta of 1.20. The company has a debt-to-equity ratio of 107.63, a current ratio of 1.24 and a quick ratio of 0.88. Foraco International SA has a one year low of C$1.57 and a one year high of C$3.54. The firm has a 50-day moving average of C$2.98 and a 200 day moving average of C$2.81.

Foraco International (TSE:FAR) last released its quarterly earnings results on Thursday, April 30th. The company reported C$0.01 earnings per share for the quarter. The firm had revenue of C$92.11 million for the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. On average, sell-side analysts expect that Foraco International SA will post 0.5984655 earnings per share for the current year.

Analyst Ratings Changes

Separately, Desjardins increased their price target on shares of Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$4.50.

Foraco International Company Profile

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.