Faraday Copper (TSE:FDY) Hits New 1-Year High - Here's Why

Key Points

• Faraday Copper shares reached a new 52-week high of C$1.94, with significant trading volume of 599,198 shares.
• TD Securities upgraded their target price for the stock from C$1.25 to C$1.50 and rated it as a "buy."
• Faraday Copper is focused on its flagship Copper Creek Project in Arizona, enhancing its position in the copper exploration market.

Faraday Copper Corp. (TSE:FDY - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$1.94 and last traded at C$1.94, with a volume of 599198 shares traded. The stock had previously closed at C$1.82.

Wall Street Analyst Weigh In

Separately, TD Securities lifted their target price on shares of 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, the stock presently has a consensus rating of "Buy" and a consensus price target of C$1.50.

Faraday Copper Price Performance

The company's 50 day moving average is C$1.47 and its two-hundred day moving average is C$1.10. The firm has a market cap of C$481.06 million, a P/E ratio of -16.00 and a beta of 1.59.

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.

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