Foraco International (TSE:FAR) Director Jean-Pierre Maurice Charmensat Sells 2,000,000 Shares

Foraco International SA (TSE:FAR) Director Jean-Pierre Maurice Charmensat sold 2,000,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of C$3.02, for a total transaction of C$6,040,000.00. Following the sale, the director directly owned 17,583,966 shares of the company’s stock, valued at C$53,103,577.32. The trade was a 10.21% decrease in their position.

Foraco International Price Performance

Foraco International stock opened at C$3.03 on Wednesday. Foraco International SA has a 52-week low of C$1.57 and a 52-week high of C$3.54. The firm has a market capitalization of C$296.79 million, a price-to-earnings ratio of 20.60 and a beta of 1.20. The company has a fifty day simple moving average of C$2.98 and a 200-day simple moving average of C$2.81. The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 107.63.

Foraco International (TSE:FAR) last released its earnings results on Thursday, April 30th. The company reported C$0.01 earnings per share (EPS) for the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. The business had revenue of C$92.11 million during the quarter. On average, equities analysts anticipate that Foraco International SA will post 0.5984655 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Desjardins upped their price objective on shares of Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$4.50.

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.