Faraday Copper (TSE:FDY) Sets New 12-Month High – Time to Buy?

Faraday Copper Corp. (TSE:FDY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$6.11 and last traded at C$6.06, with a volume of 373949 shares changing hands. The stock had previously closed at C$5.91.

Analyst Ratings Changes

A number of analysts have recently commented on FDY shares. TD Securities boosted their target price on shares of Faraday Copper from C$3.50 to C$5.50 and gave the company a “buy” rating in a report on Wednesday, February 25th. National Bank Financial boosted their target price on shares of Faraday Copper from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Ventum Capital set a C$7.00 target price on shares of Faraday Copper and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Ventum Financial upgraded shares of Faraday Copper to a “strong-buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$6.08.

Faraday Copper Trading Up 2.2%

The company has a market cap of C$1.77 billion, a P/E ratio of -50.33 and a beta of 2.14. The stock’s 50 day moving average is C$4.78 and its 200-day moving average is C$3.63.

Faraday Copper (TSE:FDY) last announced its quarterly 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%.

Faraday Copper Company Profile

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”.