Faraday Copper (TSE:FDY) Hits New 12-Month High – Still a Buy?

Shares of Faraday Copper Corp. (TSE:FDY) hit a new 52-week high on Tuesday . The stock traded as high as C$6.62 and last traded at C$6.37, with a volume of 707717 shares traded. The stock had previously closed at C$6.14.

Analysts Set New Price Targets

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

Faraday Copper Stock Performance

The company has a 50 day moving average of C$4.96 and a 200 day moving average of C$3.78. The stock has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -53.08 and a beta of 2.14.

Faraday Copper (TSE:FDY) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.04 EPS 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”.