Foraco International (TSE:FAR) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Foraco International SA (TSE:FAR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.29 and traded as high as C$2.39. Foraco International shares last traded at C$2.36, with a volume of 8,350 shares traded.

Wall Street Analysts Forecast Growth

Separately, Desjardins set a C$4.25 price target on Foraco International and gave the stock a “buy” rating in a research note on Tuesday, December 3rd.

Foraco International Trading Up 1.7 %

The company has a debt-to-equity ratio of 111.75, a current ratio of 1.40 and a quick ratio of 0.88. The business’s fifty day simple moving average is C$2.32 and its 200 day simple moving average is C$2.29. The stock has a market cap of C$236.62 million, a price-to-earnings ratio of 5.85 and a beta of 1.25.

About Foraco International

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.