Faraday Copper (TSE:FDY) Sets New 1-Year High - Time to Buy?

Key Points

• Faraday Copper shares reached a new 52-week high during trading at C$1.42, with a closing price of C$1.40 on significant volume.
• TD Securities has upgraded the company's price target from C$1.25 to C$1.50 and issued a "buy" rating, reflecting strong market confidence.
• The company is focused on advancing its flagship Copper Creek Project in Arizona, a significant copper deposit location.

Faraday Copper Corp. (TSE:FDY - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$1.42 and last traded at C$1.40, with a volume of 563992 shares. The stock had previously closed at C$1.38.

Analysts Set New Price Targets

Separately, TD Securities boosted their price objective on Faraday Copper from C$1.25 to C$1.50 and gave the stock a "buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Faraday Copper currently has a consensus rating of "Buy" and an average price target of C$1.50.

Faraday Copper Price Performance

The company has a market capitalization of C$350.77 million, a P/E ratio of -11.67 and a beta of 1.46. The firm has a fifty day moving average price of C$1.19 and a 200-day moving average price of C$0.94.

About Faraday Copper

Faraday Copper Corp. is a Canada-based exploration company. The Company is focused on advancing its flagship copper project in Arizona, United States. The Company's projects include Copper Creek Project and Contact Copper Project. The Copper Creek Project is a three-kilometer-long porphyry copper deposit located in Pinal County, less than two hours northeast of Tucson, Arizona.