Shares of Founders Metals Inc. (CVE:FDR – Get Free Report) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$6.83 and traded as high as C$6.99. Founders Metals shares last traded at C$6.86, with a volume of 156,189 shares.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on FDR. Canadian Imperial Bank of Commerce upgraded shares of Founders Metals to a “strong-buy” rating in a research note on Friday, October 23rd. BMO Capital Markets boosted their price objective on Founders Metals from C$8.00 to C$9.00 in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of C$9.00.
Founders Metals Trading Up 3.8%
The stock’s 50-day moving average price is C$6.83 and its 200-day moving average price is C$5.05. The company has a market capitalization of C$987.17 million, a P/E ratio of -62.36 and a beta of 2.08.
Insider Buying and Selling at Founders Metals
In related news, Director Vijay Kirpalani bought 25,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of C$4.02 per share, for a total transaction of C$100,500.00. Following the completion of the purchase, the director directly owned 760,000 shares in the company, valued at approximately C$3,055,200. The trade was a 3.40% increase in their position.
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