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

Faraday Copper Corp. (TSE:FDY) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$6.11 and last traded at C$6.06, with a volume of 373949 shares trading hands. The stock had previously closed at C$5.91.

Wall Street Analyst Weigh In

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

Faraday Copper Trading Up 2.2%

The firm has a market capitalization of C$1.77 billion, a P/E ratio of -50.33 and a beta of 2.14. The company has a 50 day simple moving average of C$4.78 and a two-hundred day simple moving average of C$3.63.

Faraday Copper (TSE:FDY) last posted 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%.

About Faraday Copper

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”.