Faraday Copper (TSE:FDY) Shares Down 3.1% - What's Next?

Key Points

• Faraday Copper's stock decreased by 3.1% during mid-day trading, reaching a low of C$1.24 before closing at C$1.27.
• TD Securities raised their price target for Faraday Copper from C$1.25 to C$1.50, maintaining a "buy" rating, with the stock receiving a consensus "Buy" rating.
• The company is focused on advancing its flagship Copper Creek Project in Arizona, which is a significant porphyry copper deposit.

Faraday Copper Corp. (TSE:FDY - Get Free Report)'s stock price was down 3.1% during mid-day trading on Friday . The stock traded as low as C$1.24 and last traded at C$1.27. Approximately 432,189 shares traded hands during trading, an increase of 95% from the average daily volume of 221,509 shares. The stock had previously closed at C$1.31.

Analyst Ratings Changes

Separately, TD Securities upped their price objective on 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, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$1.50.

Faraday Copper Trading Down 3.1%

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

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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