Insider Selling: 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 on Friday, June 12th. The stock was sold at an average price of C$3.02, for a total value of C$6,040,000.00. Following the sale, the director owned 10,571,225 shares of the company’s stock, valued at approximately C$31,925,099.50. The trade was a 15.91% decrease in their position.

Foraco International Trading Down 5.2%

Shares of FAR opened at C$2.71 on Friday. The stock’s fifty day simple moving average is C$2.98 and its 200-day simple moving average is C$2.82. The firm has a market capitalization of C$265.45 million, a PE ratio of 18.42 and a beta of 1.20. Foraco International SA has a 12-month low of C$1.57 and a 12-month high of C$3.54. The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 107.63.

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

Analyst Ratings Changes

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 research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company 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.