Foraco International (TSE:FAR) Director Sells C$6,040,000.00 in Stock

Foraco International SA (TSE:FAR) Director Daniel Louis Simoncini sold 2,000,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$3.02, for a total transaction of C$6,040,000.00. Following the sale, the director directly owned 10,571,225 shares in the company, valued at C$31,925,099.50. This trade represents a 15.91% decrease in their ownership of the stock.

Foraco International Stock Down 2.3%

TSE:FAR traded down C$0.07 on Tuesday, hitting C$3.03. 88,818 shares of the company’s stock were exchanged, compared to its average volume of 231,656. The firm has a 50-day moving average price of C$2.98 and a 200-day moving average price of C$2.81. 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 SA has a 52 week low of C$1.57 and a 52 week high of C$3.54. The company has a market cap of C$296.79 million, a P/E ratio of 20.60 and a beta of 1.20.

Foraco International (TSE:FAR) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$0.01 EPS for the quarter. Foraco International had a net margin of 5.43% and a return on equity of 15.14%. The firm had revenue of C$92.11 million for the quarter. As a group, analysts expect that Foraco International SA will post 0.5984655 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Desjardins upped their target price on shares of Foraco International from C$3.00 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Foraco International has a consensus rating of “Buy” and an average target price 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.