Gran Tierra Energy (TSE:GTE) Reaches New 1-Year High – Time to Buy?

Shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) hit a new 52-week high during trading on Monday . The stock traded as high as C$11.75 and last traded at C$11.76, with a volume of 72501 shares trading hands. The stock had previously closed at C$11.25.

Wall Street Analyst Weigh In

GTE has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their target price on shares of Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating for the company in a report on Friday, December 12th. Canaccord Genuity Group downgraded Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 price objective on the stock. in a research report on Tuesday, January 27th. Finally, Roth Mkm cut shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$8.17.

Gran Tierra Energy Stock Down 7.6%

The business has a 50-day moving average price of C$8.17 and a 200 day moving average price of C$6.65. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 316.85. The stock has a market capitalization of C$391.47 million, a P/E ratio of -2.03, a P/E/G ratio of 0.23 and a beta of 1.01.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($5.43) earnings per share for the quarter. Gran Tierra Energy had a negative return on equity of 56.05% and a negative net margin of 32.07%.The business had revenue of C$169.06 million during the quarter. On average, equities analysts expect that Gran Tierra Energy Inc. will post 0.1092044 EPS 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.