Gran Tierra Energy (TSE:GTE) Price Target Lowered to C$8.50 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 - Get Free Report) NYSEMKT: GTE had its price target lowered by equities researchers at Royal Bank Of Canada from C$9.00 to C$8.50 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 54.55% from the company's previous close.

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

Gran Tierra Energy Stock Down 11.4%

Shares of TSE GTE traded down C$0.71 during midday trading on Friday, reaching C$5.50. 85,329 shares of the company's stock traded hands, compared to its average volume of 35,862. The company has a market cap of C$141.00 million, a price-to-earnings ratio of 2.63, a P/E/G ratio of 0.23 and a beta of 1.57. The stock's 50 day simple moving average is C$6.74 and its 200-day simple moving average is C$7.08. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 176.57. Gran Tierra Energy has a one year low of C$4.76 and a one year high of C$11.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.