Faraday Copper (TSE:FDY) Sets New 52-Week High - Still a Buy?

Key Points

• Faraday Copper Corp. reached a new 52-week high of C$1.82 during mid-day trading, indicating strong market performance.
• TD Securities raised their target price for the stock from C$1.25 to C$1.50 and maintained a "buy" rating, reflecting positive analyst sentiment.
• The company is primarily focused on advancing its flagship Copper Creek Project in Arizona, which is a significant copper deposit.

Faraday Copper Corp. (TSE:FDY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$1.81 and last traded at C$1.82, with a volume of 570266 shares trading hands. The stock had previously closed at C$1.73.

Wall Street Analysts Forecast Growth

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

Faraday Copper Stock Up 4.6%

The company has a 50-day moving average of C$1.36 and a 200 day moving average of C$1.04. The firm has a market capitalization of C$453.50 million, a PE ratio of -15.08 and a beta of 1.59.

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.

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