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

Key Points

• Gran Tierra Energy shares surged to a new 52-week high, reaching C$16.16 intraday and last trading at C$15.36, up sharply from the prior close of C$9.67.
• Analyst sentiment has improved, with Roth Capital and Canaccord Genuity upgrading the stock to “Buy.” The consensus rating is “Moderate Buy,” though the C$12.50 average target is below the current price.
• The company reported weak quarterly results, including a C$4.70 loss per share, a negative 48.52% net margin and negative 107.11% return on equity. Its balance sheet also shows significant leverage, with debt-to-equity of 572.05.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE's stock 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 trading hands. The stock had previously closed at C$9.67.

Analyst Ratings Changes

A number of research firms have recently weighed in on GTE. Roth Capital raised shares of Gran Tierra Energy from a "neutral" rating to a "buy" rating and set a C$14.50 price objective for the company in a research report on Tuesday, June 16th. Canaccord Genuity Group upgraded shares of Gran Tierra Energy from a "hold" rating to a "buy" rating and raised their target price for the stock from C$10.00 to C$14.00 in a research report on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$12.50.

Gran Tierra Energy Price Performance

The company's fifty day moving average is C$9.90 and its 200 day moving average is C$10.09. 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 stock has a market cap of C$495.04 million, a PE ratio of -1.69, a price-to-earnings-growth ratio of 0.23 and a beta of -0.51.

Gran Tierra Energy (TSE:GTE - Get Free Report) NYSEMKT: GTE last announced its quarterly earnings results on Friday, May 8th. The company reported C($4.70) earnings per share (EPS) for the quarter. Gran Tierra Energy had a negative net margin of 48.52% and a negative return on equity of 107.11%. The company had revenue of C$239.21 million during the quarter. As a group, sell-side 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.

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