Gran Tierra Energy (TSE:GTE) Hits New 52-Week High – Still a Buy?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$16.16 and last traded at C$15.36, with a volume of 320590 shares changing hands. The stock had previously closed at C$9.67.

Wall Street Analyst Weigh In

GTE has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised Gran Tierra Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$10.00 to C$14.00 in a report on Tuesday, April 14th. Roth Capital raised Gran Tierra Energy from a “neutral” rating to a “buy” rating and set a C$14.50 target price on the stock in a research note on Tuesday, June 16th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Gran Tierra Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$12.50.

Gran Tierra Energy Stock Up 44.8%

The company has a market capitalization of C$495.04 million, a price-to-earnings ratio of -1.69, a price-to-earnings-growth ratio of 0.23 and a beta of -0.51. The company has a quick ratio of 0.58, a current ratio of 0.53 and a debt-to-equity ratio of 572.05. The business has a 50-day moving average price of C$9.90 and a 200-day moving average price of C$10.09.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings results on Friday, May 8th. The company reported C($4.70) earnings per share (EPS) for the quarter. The firm had revenue of C$239.21 million for the quarter. Gran Tierra Energy had a negative net margin of 48.52% and a negative return on equity of 107.11%. As a group, equities analysts anticipate that Gran Tierra Energy Inc. will post 0.1092044 earnings per share for the current fiscal year.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.