Foraco International SA (TSE:FAR – Get Free Report) shot up 8.5% on Friday . The company traded as high as C$3.33 and last traded at C$3.33. 356,595 shares traded hands during trading, an increase of 70% from the average session volume of 210,013 shares. The stock had previously closed at C$3.07.
Wall Street Analyst Weigh In
Separately, Desjardins increased their target price on Foraco International from C$3.00 to C$4.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$4.50.
Get Our Latest Stock Analysis on FAR
Foraco International Price Performance
Foraco International (TSE:FAR – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported C$0.01 EPS for the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. The company had revenue of C$92.11 million for the quarter. As a group, sell-side analysts forecast that Foraco International SA will post 0.5984655 EPS for the current year.
Insider Activity at Foraco International
In other Foraco International news, Director William Warren Holmes bought 17,000 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of C$2.84 per share, with a total value of C$48,280.00. Following the completion of the acquisition, the director owned 450,001 shares of the company’s stock, valued at C$1,278,002.84. This trade represents a 3.93% increase in their ownership of the stock. Corporate insiders own 35.74% of the company’s stock.
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.
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