Faraday Copper (TSE:FDY) Reaches New 12-Month High – Here’s Why

Shares of Faraday Copper Corp. (TSE:FDY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$5.71 and last traded at C$5.62, with a volume of 1149171 shares trading hands. The stock had previously closed at C$5.35.

Wall Street Analysts Forecast Growth

FDY has been the subject of a number of recent research reports. TD Securities lifted their target price on Faraday Copper from C$3.50 to C$5.50 and gave the stock a “buy” rating in a report on Wednesday, February 25th. National Bank Financial raised their price target on Faraday Copper from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$5.63.

Faraday Copper Trading Up 6.2%

The company has a market capitalization of C$1.58 billion, a PE ratio of -47.33 and a beta of 2.14. The firm’s 50-day simple moving average is C$4.65 and its 200-day simple moving average is C$3.38.

Faraday Copper (TSE:FDY) last issued its earnings results on Thursday, May 7th. The company reported C$0.04 earnings per share (EPS) for the quarter. Faraday Copper had a negative net margin of 40,035.69% and a negative return on equity of 39.74%.

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”.