Insider Buying: Founders Metals (CVE:FDR) Director Buys C$84,400.00 in Stock

Founders Metals Inc. (CVE:FDR) Director Vijay Kirpalani acquired 20,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of C$4.22 per share, for a total transaction of C$84,400.00. Following the completion of the purchase, the director owned 735,000 shares of the company’s stock, valued at C$3,101,700. This trade represents a 2.80% increase in their position.

Vijay Kirpalani also recently made the following trade(s):

• On Wednesday, September 16th, Vijay Kirpalani bought 25,000 shares of Founders Metals stock. The shares were acquired at an average price of C$4.02 per share, for a total transaction of C$100,500.00.

Founders Metals Stock Up 2.2%

Shares of FDR opened at C$6.95 on Thursday. The company has a 50-day simple moving average of C$5.36 and a 200-day simple moving average of C$4.80. Founders Metals Inc. has a 52-week low of C$3.15 and a 52-week high of C$6.95. The company has a market capitalization of C$1.00 billion, a PE ratio of -63.18 and a beta of 2.20.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price objective on Founders Metals from C$8.00 to C$9.00 in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$9.00.