Foraco International (TSE:FAR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Foraco International SA (TSE:FAR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.32 and traded as high as C$2.49. Foraco International shares last traded at C$2.37, with a volume of 11,021 shares.

Wall Street Analysts Forecast Growth

Separately, Desjardins set a C$4.25 target price on Foraco International and gave the company a “buy” rating in a research note on Tuesday, December 3rd.

Foraco International Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 111.75. The stock’s 50-day moving average price is C$2.27 and its 200-day moving average price is C$2.32. The company has a market capitalization of C$225.77 million, a price-to-earnings ratio of 5.59 and a beta of 1.25.

Foraco International (TSE:FAR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported C$0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.08 by C$0.03. The firm had revenue of C$105.94 million for the quarter. Foraco International had a return on equity of 33.87% and a net margin of 8.87%. Equities research analysts anticipate that Foraco International SA will post 0.5984655 earnings per share for the current year.

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.