Foraco International (TSE:FAR) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Foraco International SA (TSE:FAR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.32 and traded as high as C$2.55. Foraco International shares last traded at C$2.41, with a volume of 80,519 shares.

Wall Street Analysts Forecast Growth

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

Foraco International Stock Up 2.6 %

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 has a market capitalization of C$237.60 million, a PE ratio of 5.88 and a beta of 1.25. The firm’s fifty day moving average is C$2.26 and its 200-day moving average is C$2.32.

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