Pine Cliff Energy Ltd (TSE:PNE)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$0.30 and last traded at C$0.30, with a volume of 180200 shares traded. The stock had previously closed at C$0.31.
Separately, CIBC raised Pine Cliff Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from C$0.35 to C$0.50 in a research report on Friday, July 20th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of C$0.45.
Pine Cliff Energy (TSE:PNE) last issued its earnings results on Wednesday, August 8th. The company reported C($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.03) by C($0.03). Pine Cliff Energy had a negative return on equity of 69.00% and a negative net margin of 126.46%. The business had revenue of C$20.42 million during the quarter, compared to analysts’ expectations of C$23.30 million.
Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.
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