Gran Tierra Energy (TSE:GTE) Given New C$8.50 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target for Gran Tierra Energy from C$9.00 to C$8.50, suggesting a potential upside of 54.55% from the previous close.
• Gran Tierra Energy's shares dropped 11.4% to C$5.50 during midday trading, with over 85,000 shares exchanged.
• According to Raymond James Financial, Gran Tierra Energy's target price is set at C$10.00, maintaining a "market perform" rating.

Gran Tierra Energy (TSE:GTE - Free Report) NYSEMKT: GTE had its price objective trimmed by Royal Bank Of Canada from C$9.00 to C$8.50 in a report issued on Friday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Separately, Raymond James Financial set a C$10.00 price objective on Gran Tierra Energy and gave the stock a "market perform" rating in a report on Friday, June 20th.

Gran Tierra Energy Stock Performance

TSE:GTE traded down C$0.01 during trading on Friday, reaching C$5.48. The company's stock had a trading volume of 28,613 shares, compared to its average volume of 36,292. The company has a debt-to-equity ratio of 176.57, a quick ratio of 0.58 and a current ratio of 1.31. The firm has a market cap of C$140.49 million, a price-to-earnings ratio of 2.62, a price-to-earnings-growth ratio of 0.23 and a beta of 1.57. Gran Tierra Energy has a 12 month low of C$4.76 and a 12 month high of C$11.95. The firm has a 50 day moving average of C$6.69 and a 200-day moving average of C$6.91.

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.