Faraday Copper (TSE:FDY) Reaches New 1-Year High – Here’s Why

Shares of Faraday Copper Corp. (TSE:FDY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$2.36 and last traded at C$2.36, with a volume of 1229977 shares traded. The stock had previously closed at C$2.17.

Wall Street Analysts Forecast Growth

Separately, Ventum Cap Mkts upgraded shares of Faraday Copper to a “strong-buy” rating in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy” and an average price target of C$1.50.

Faraday Copper Stock Performance

The stock has a 50 day moving average price of C$1.96 and a 200 day moving average price of C$1.40. The company has a market capitalization of C$548.75 million, a P/E ratio of -16.69 and a beta of 1.38.

Faraday Copper (TSE:FDY) last posted its quarterly earnings results on Thursday, November 13th. The company reported C$0.02 earnings per share for the quarter. Faraday Copper had a negative net margin of 40,035.69% and a negative return on equity of 54.03%.

About Faraday Copper

Faraday Copper Corp. is a Canada-based exploration company. The Company is focused on advancing its flagship copper project in Arizona, United States. The Company’s projects include Copper Creek Project and Contact Copper Project. The Copper Creek Project is a three-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona.