Foraco International (TSE:FAR) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Foraco International SA (TSE:FAR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Foraco International Stock Performance

The company has a market capitalization of C$225.77 million, a price-to-earnings ratio of 5.59 and a beta of 1.25. The firm’s 50 day simple moving average is C$2.27 and its 200-day simple moving average is C$2.32. The company has a debt-to-equity ratio of 111.75, a quick ratio of 0.88 and a current ratio of 1.40.

Foraco International (TSE:FAR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported C$0.11 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of C$105.94 million for the quarter. Analysts expect that Foraco International SA will post 0.5984655 EPS for the current year.

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.