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

Key Points

• Canaccord Genuity upgraded Gran Tierra Energy to a "Buy", raising its target from C$10.00 to C$14.00 — suggesting roughly a 30% upside from current levels.
• Other analysts are mixed (Raymond James raised to a "moderate buy" with a C$15 target while Roth MKM cut to "hold"), leaving a MarketBeat consensus of "Moderate Buy" and an average target of C$11.83; the stock traded at C$10.74 and faces financial risks including a C($5.43) quarterly EPS, negative margins/ROE and a high debt-to-equity ratio (316.85).

Gran Tierra Energy (TSE:GTE - Get Free Report) NYSEMKT: GTE was upgraded by equities researchers at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report released on Tuesday,BayStreet.CA reports. The firm presently has a C$14.00 target price on the stock, up from their prior target price of C$10.00. Canaccord Genuity Group's price target suggests a potential upside of 30.35% from the company's current price.

A number of other research firms have also recently commented on GTE. Roth Mkm cut Gran Tierra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 29th. Raymond James Financial upgraded Gran Tierra Energy from a "hold" rating to a "moderate buy" rating and upped their price objective for the company from C$9.00 to C$15.00 in a report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Gran Tierra Energy currently has a consensus rating of "Moderate Buy" and an average price target of C$11.83.

Gran Tierra Energy Trading Down 2.7%

GTE traded down C$0.30 during trading hours on Tuesday, reaching C$10.74. The company's stock had a trading volume of 49,417 shares, compared to its average volume of 102,065. Gran Tierra Energy has a fifty-two week low of C$4.33 and a fifty-two week high of C$13.58. The stock has a market cap of C$379.11 million, a PE ratio of -1.97, a P/E/G ratio of 0.23 and a beta of -0.14. The business's 50-day moving average is C$9.96 and its 200-day moving average is C$7.46. 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 (TSE:GTE - Get Free Report) NYSEMKT: GTE last released its quarterly earnings data on Wednesday, March 4th. The company reported C($5.43) EPS for the quarter. Gran Tierra Energy had a negative net margin of 32.07% and a negative return on equity of 56.05%. The business had revenue of C$169.06 million during the quarter. As a group, equities research analysts predict that Gran Tierra Energy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.