Faraday Copper (TSE:FDY) Hits New 52-Week High - Should You Buy?

Key Points

• Faraday Copper Corp. shares reached a new 52-week high, trading at C$1.58, with a significant volume of 353,755 shares changing hands.
• TD Securities raised their target price for the stock from C$1.25 to C$1.50, maintaining a "buy" rating, contributing to a consensus "buy" rating with a price target of C$1.50 from analysts.
• The company is focused on advancing its flagship Copper Creek Project in Arizona, which is a critical part of its operations.

Shares of Faraday Copper Corp. (TSE:FDY - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$1.58 and last traded at C$1.55, with a volume of 353755 shares trading hands. The stock had previously closed at C$1.49.

Analyst Ratings Changes

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 research note on Thursday, July 31st. One investment 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 a consensus price target of C$1.50.

Faraday Copper Stock Performance

The company's 50-day simple moving average is C$1.26 and its 200-day simple moving average is C$0.99. The company has a market capitalization of C$388.35 million, a PE ratio of -12.92 and a beta of 1.46.

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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