Foraco International (TSE:FAR) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Foraco International SA (TSE:FAR)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

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

Foraco International Stock Down 3.4 %

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

Foraco International (TSE:FAR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported C$0.11 EPS for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.03. Foraco International had a net margin of 8.87% and a return on equity of 33.87%. The firm had revenue of C$105.94 million during the quarter. As a group, equities research analysts predict that Foraco International SA will post 0.5984655 earnings per share for the current fiscal year.

About Foraco International

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.