Foraco International (TSE:FAR) Director Jean-Pierre Maurice Charmensat Sells 2,000,000 Shares

Foraco International SA (TSE:FAR) Director Jean-Pierre Maurice Charmensat sold 2,000,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 17,583,966 shares of the company’s stock, valued at C$53,103,577.32. The trade was a 10.21% decrease in their ownership of the stock.

Foraco International Stock Down 2.3%

TSE:FAR traded down C$0.07 during trading hours on Tuesday, reaching C$3.03. The company had a trading volume of 88,818 shares, compared to its average volume of 231,656. The company has a quick ratio of 0.88, a current ratio of 1.24 and a debt-to-equity ratio of 107.63. The firm has a market cap of C$296.79 million, a price-to-earnings ratio of 20.60 and a beta of 1.20. The business’s 50-day simple moving average is C$2.98 and its two-hundred day simple moving average is C$2.81. Foraco International SA has a twelve month low of C$1.57 and a twelve month high of C$3.54.

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

Analysts Set New Price Targets

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

About Foraco International

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.