Faraday Copper (TSE:FDY) Shares Up 8.7% – What’s Next?

Faraday Copper Corp. (TSE:FDY) shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as C$2.28 and last traded at C$2.25. 3,787,355 shares traded hands during mid-day trading, an increase of 1,093% from the average session volume of 317,514 shares. The stock had previously closed at C$2.07.

Wall Street Analysts Forecast Growth

Separately, TD Securities lifted their price target on shares of 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 MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$1.50.

Faraday Copper Price Performance

The company’s fifty day simple moving average is C$1.58 and its 200-day simple moving average is C$1.16. The firm has a market capitalization of C$563.74 million, a PE ratio of -18.75 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.