Faraday Copper (TSE:FDY) Sets New 52-Week High - Time to Buy?

Key Points

• Faraday Copper Corp. reached a new 52-week high with stock trading at C$1.90, up from a previous close of C$1.80, and a significant trading volume of over 1.1 million shares.
• TD Securities upgraded Faraday Copper's price target to C$1.50, affirming a "buy" rating, while the average analyst rating for the stock remains a "buy" with a similar price target.
• The company focuses on the Copper Creek Project in Arizona and boasts a market cap of C$481.06 million with a current PE ratio of -16.00.

Faraday Copper Corp. (TSE:FDY - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$1.90 and last traded at C$1.90, with a volume of 1113282 shares trading hands. The stock had previously closed at C$1.80.

Wall Street Analysts Forecast Growth

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

Faraday Copper Trading Up 6.7%

The firm has a fifty day moving average of C$1.41 and a two-hundred day moving average of C$1.07. The company has a market cap of C$481.06 million, a PE ratio of -16.00 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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