Faraday Copper (TSE:FDY) Stock Price Down 3.1% - Here's What Happened

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) shares traded down 3.1% during mid-day trading on Friday . The company traded as low as C$1.24 and last traded at C$1.27. 432,189 shares changed hands during mid-day trading, an increase of 95% from the average session volume of 221,509 shares. The stock had previously closed at C$1.31.

Analysts Set New Price Targets

Separately, TD Securities upped their target price 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, According to data from MarketBeat, Faraday Copper presently has an average rating of "Buy" and a consensus price target of C$1.50.

Faraday Copper Price Performance

The company has a market capitalization of C$340.75 million, a P/E ratio of -11.33 and a beta of 1.46. The stock has a 50-day moving average price of C$1.24 and a 200-day moving average price of C$0.97.

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.