Foraco International (TSE:FAR) Reaches New 1-Year High – Still a Buy?

Foraco International SA (TSE:FAR)’s share price hit a new 52-week high on Friday . The company traded as high as C$3.47 and last traded at C$3.40, with a volume of 69137 shares changing hands. The stock had previously closed at C$3.37.

Analysts Set New Price Targets

Separately, Desjardins raised their price target on Foraco International from C$3.00 to C$4.50 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$4.50.

Foraco International Stock Up 0.9%

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 firm’s 50 day simple moving average is C$2.75 and its 200-day simple moving average is C$2.34. The stock has a market capitalization of C$334.99 million, a price-to-earnings ratio of 21.22 and a beta of 0.62.

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. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.