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

Key Points

• Faraday Copper reached a new 52-week high of C$1.42, closing at C$1.40 with over 277,000 shares traded, indicating strong investor interest.
• TD Securities recently increased their price target for Faraday Copper from C$1.25 to C$1.50 and maintained a "buy" rating, reflecting positive analyst sentiment.
• Faraday Copper is primarily focused on its flagship Copper Creek Project in Arizona, which is a significant copper deposit located northeast of Tucson.

Faraday Copper Corp. (TSE:FDY - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$1.42 and last traded at C$1.40, with a volume of 277178 shares. The stock had previously closed at C$1.40.

Analysts Set New Price Targets

Separately, TD Securities increased their price objective 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$1.50.

Faraday Copper Stock Down 3.1%

The company has a market cap of C$318.20 million, a price-to-earnings ratio of -10.58 and a beta of 1.46. The company's 50-day moving average is C$1.23 and its 200 day moving average is C$0.96.

Faraday Copper Company Profile

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.