Foraco International (TSE:FAR) Director Daniel Louis Simoncini Sells 2,000,000 Shares of Stock

Foraco International SA (TSE:FAR) Director Daniel Louis Simoncini sold 2,000,000 shares of Foraco International 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 sale, the director directly owned 10,571,225 shares of the company’s stock, valued at C$31,925,099.50. This represents a 15.91% decrease in their ownership of the stock.

Foraco International Stock Performance

TSE FAR opened at C$3.03 on Wednesday. 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 debt-to-equity ratio of 107.63, a quick ratio of 0.88 and a current ratio of 1.24. The company has a market capitalization of C$296.79 million, a P/E ratio of 20.60 and a beta of 1.20. The company has a fifty day moving average of C$2.98 and a 200-day moving average of C$2.81.

Foraco International (TSE:FAR) last posted its quarterly earnings data 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 during the quarter. As a group, equities research analysts predict that Foraco International SA will post 0.5984655 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Desjardins lifted their price objective 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.