Foraco International ( (TSE:FAR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Foraco International’s stock is on the rise after securing major long-term drilling contracts valued at $150 million, bolstering its market standing amid strong copper and gold prices. Analysts are optimistic about the stock due to solid valuation metrics, although there are concerns about declining revenue and high leverage. Despite surpassing previous earnings estimates, the stock has experienced a 13.33% decline since the beginning of the year.
More about Foraco International
YTD Price Performance: -13.33%
Average Trading Volume: 228,562
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$212.1M
For further insights into FAR stock on TipRanks’ Stock Analysis page.
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