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Foraco International ( (TSE:FAR) ) has issued an announcement.
Foraco International SA has announced a new normal course issuer bid (NCIB) approved by the Toronto Stock Exchange, allowing the company to repurchase up to 1% of its common shares over the next year. This move is part of Foraco’s strategy to manage its share capital effectively and meet obligations related to employee share plans, potentially impacting its market position and shareholder value.
The most recent analyst rating on (TSE:FAR) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Foraco International stock, see the TSE:FAR Stock Forecast page.
Spark’s Take on TSE:FAR Stock
According to Spark, TipRanks’ AI Analyst, TSE:FAR is a Neutral.
Foraco International’s overall stock score is driven by a strong corporate event with the Glencore contract, which boosts its strategic positioning. However, financial challenges and mixed technical indicators weigh on the score. The stock’s low valuation metrics provide some upside potential.
To see Spark’s full report on TSE:FAR stock, click here.
More about Foraco International
Foraco International SA is a leading global mineral drilling services company, providing comprehensive services in mining and water projects. It is the third largest global drilling enterprise, operating in 16 countries across five continents.
Average Trading Volume: 203,065
Technical Sentiment Signal: Buy
Current Market Cap: C$198.2M
Find detailed analytics on FAR stock on TipRanks’ Stock Analysis page.