Faraday Copper (TSE:FDY) Stock Gets Price Target Bump from Raymond James Financial

Key Points

• Raymond James raised Faraday Copper’s price target to C$9.25 from C$8.50 while maintaining an “outperform” rating, implying 113.63% upside from the previous close.
• Analyst sentiment is broadly positive: Jefferies upgraded the stock to “strong buy,” while National Bank Financial and TD also raised their targets. The consensus rating is “Buy,” with an average price target of C$7.21.
• Faraday Copper shares fell C$0.39 to C$4.33, below their 50-day and 200-day moving averages. The company reported a quarterly loss of C$0.05 per share and continues developing its flagship Copper Creek project in Arizona.

Faraday Copper (TSE:FDY - Get Free Report) had its price objective raised by stock analysts at Raymond James Financial from C$8.50 to C$9.25 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 113.63% from the company's previous close.

A number of other analysts have also recently commented on the company. Jefferies Financial Group upgraded Faraday Copper to a "strong-buy" rating in a research report on Monday, August 24th. National Bank Financial increased their target price on Faraday Copper from C$7.25 to C$7.50 and gave the company an "outperform" rating in a research report on Monday, September 21st. Finally, TD increased their target price on Faraday Copper from C$5.50 to C$7.00 and gave the company a "buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$7.21.

Faraday Copper Stock Performance

Shares of Faraday Copper stock traded down C$0.39 on Thursday, hitting C$4.33. The company's stock had a trading volume of 1,091,705 shares, compared to its average volume of 821,850. Faraday Copper has a 1 year low of C$1.85 and a 1 year high of C$6.69. The firm has a fifty day moving average price of C$5.31 and a 200-day moving average price of C$5.43. The company has a market capitalization of C$1.27 billion, a price-to-earnings ratio of -28.87 and a beta of 1.67.

Faraday Copper (TSE:FDY - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported C($0.05) earnings per share for the quarter. Faraday Copper had a negative return on equity of 36.55% and a negative net margin of 40,035.69%.

About Faraday Copper

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".

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.