Gran Tierra Energy (TSE:GTE) Raised to Buy at Canaccord Genuity Group

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a C$14.00 price target on the stock, up from their prior price target of C$10.00. Canaccord Genuity Group’s price objective points to a potential upside of 30.35% from the stock’s current price.

Several other analysts have also recently issued reports on GTE. Raymond James Financial upgraded Gran Tierra Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$9.00 to C$15.00 in a research note on Monday, March 30th. Roth Mkm cut Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Gran Tierra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$11.83.

Gran Tierra Energy Stock Down 2.7%

Shares of TSE GTE traded down C$0.30 during mid-day trading on Tuesday, hitting C$10.74. The company had a trading volume of 49,417 shares, compared to its average volume of 102,065. The company has a market capitalization of C$379.11 million, a PE ratio of -1.97, a price-to-earnings-growth ratio of 0.23 and a beta of -0.14. The company has a debt-to-equity ratio of 316.85, a current ratio of 0.60 and a quick ratio of 0.58. Gran Tierra Energy has a 1-year low of C$4.33 and a 1-year high of C$13.58. The business’s 50-day simple moving average is C$9.96 and its 200 day simple moving average is C$7.46.

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

Gran Tierra Energy Company Profile

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.