Foraco International (TSE:FAR) Price Target Raised to C$4.50

Foraco International (TSE:FAR) had its price objective increased by Desjardins from C$3.00 to C$4.50 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Foraco International Price Performance

Shares of TSE:FAR opened at C$3.37 on Tuesday. Foraco International has a 52 week low of C$1.57 and a 52 week high of C$3.42. The company has a 50-day moving average price of C$2.75 and a 200 day moving average price of C$2.34. The company has a market cap of C$332.03 million, a P/E ratio of 21.04 and a beta of 0.62. The company has a quick ratio of 0.88, a current ratio of 1.43 and a debt-to-equity ratio of 115.59.

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.