Faraday Copper (TSE:FDY) Sets New 12-Month High – Time to Buy?

Faraday Copper Corp. (TSE:FDY)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$6.62 and last traded at C$6.37, with a volume of 707717 shares changing hands. The stock had previously closed at C$6.14.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Ventum Capital set a C$7.00 price objective on Faraday Copper and gave the company a “buy” rating in a research report on Tuesday, May 19th. TD Securities raised their price objective on Faraday Copper from C$3.50 to C$5.50 and gave the company a “buy” rating in a research report on Wednesday, February 25th. National Bank Financial raised their price objective on Faraday Copper from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Finally, Ventum Financial raised Faraday Copper to a “strong-buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$6.08.

Faraday Copper Stock Down 5.1%

The firm has a fifty day moving average price of C$5.07 and a two-hundred day moving average price of C$3.84. The stock has a market capitalization of C$1.84 billion, a P/E ratio of -52.50 and a beta of 1.76.

Faraday Copper (TSE:FDY) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.04 earnings per share for the quarter. Faraday Copper had a negative return on equity of 39.74% and a negative net margin of 40,035.69%.

Faraday Copper Company Profile

Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. The Company is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol “FDY”.