Daniel Louis Simoncini Sells 2,000,000 Shares of Foraco International (TSE:FAR) Stock

Foraco International SA (TSE:FAR) Director Daniel Louis Simoncini sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$3.02, for a total value of C$6,040,000.00. Following the completion of the sale, the director directly owned 10,571,225 shares in the company, valued at approximately C$31,925,099.50. The trade was a 15.91% decrease in their ownership of the stock.

Foraco International Stock Performance

Shares of TSE:FAR opened at C$2.86 on Thursday. The company has a debt-to-equity ratio of 107.63, a current ratio of 1.24 and a quick ratio of 0.88. The business’s 50 day moving average price is C$2.98 and its 200-day moving average price is C$2.81. The firm has a market capitalization of C$280.14 million, a PE ratio of 19.44 and a beta of 1.20. Foraco International SA has a 1 year low of C$1.57 and a 1 year high of C$3.54.

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

Analyst Upgrades and Downgrades

Separately, Desjardins lifted their price target on Foraco International from C$3.00 to C$4.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Foraco International currently has an average rating of “Buy” and an average target price 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.