Foraco International (TSE:FAR) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Foraco International SA (TSE:FAR)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$2.29 and traded as high as C$2.36. Foraco International shares last traded at C$2.24, with a volume of 68,371 shares changing hands.

Wall Street Analysts Forecast Growth

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

Foraco International Price Performance

The company has a current ratio of 1.43, a quick ratio of 0.88 and a debt-to-equity ratio of 115.59. The company’s fifty day simple moving average is C$2.32 and its 200-day simple moving average is C$2.29. The stock has a market cap of C$157.18 million, a P/E ratio of 5.82 and a beta of 1.25.

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.