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

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

Foraco International Stock Down 2.3%

Shares of TSE FAR traded down C$0.07 during mid-day trading on Tuesday, reaching C$3.03. 88,818 shares of the company’s stock traded hands, compared to its average volume of 231,656. The stock has a market cap of C$296.79 million, a P/E ratio of 20.60 and a beta of 1.20. The business has a 50-day simple moving average of C$2.98 and a 200 day simple moving average of C$2.81. Foraco International SA has a 1-year low of C$1.57 and a 1-year high of C$3.54. The company has a debt-to-equity ratio of 107.63, a current ratio of 1.24 and a quick ratio of 0.88.

Foraco International (TSE:FAR) last issued its quarterly earnings data 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 during the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. On average, analysts expect 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 stock a “buy” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.