Foraco International (TSE:FAR) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Foraco International SA (TSE:FAR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.29 and traded as high as C$2.39. Foraco International shares last traded at C$2.36, with a volume of 8,350 shares traded.

Wall Street Analyst Weigh In

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

Foraco International Trading Down 1.7 %

The firm has a market capitalization of C$232.67 million, a P/E ratio of 5.76 and a beta of 1.25. The stock’s 50-day simple moving average is C$2.31 and its two-hundred day simple moving average is C$2.29. The company has a debt-to-equity ratio of 111.75, a current ratio of 1.40 and a quick ratio of 0.88.

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.