Faraday Copper (TSE:FDY) Sets New 1-Year High – Still a Buy?

Faraday Copper Corp. (TSE:FDY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$5.58 and last traded at C$5.48, with a volume of 840451 shares traded. The stock had previously closed at C$5.11.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FDY. TD Securities boosted their price target on shares of Faraday Copper from C$3.50 to C$5.50 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. National Bank Financial boosted their price objective on Faraday Copper from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$5.63.

Faraday Copper Stock Up 7.4%

The firm has a market capitalization of C$1.53 billion, a price-to-earnings ratio of -45.75 and a beta of 2.15. The stock has a 50-day moving average price of C$4.39 and a 200 day moving average price of C$3.11.

Faraday Copper (TSE:FDY) last announced its quarterly earnings data on Thursday, March 12th. The company reported C$0.21 EPS for the quarter. Faraday Copper had a negative return on equity of 63.51% and a negative net margin of 40,035.69%.

Faraday Copper Company Profile

Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol “FDY”.