Gran Tierra Energy (TSE:GTE) Shares Cross Below 200 Day Moving Average on Analyst Downgrade

Key Points

• Gran Tierra Energy's share price dropped below its 200-day moving average following a downgrade by the Royal Bank of Canada, which lowered their price target from C$9.00 to C$8.50.
• The stock last traded at C$5.49 with a volume of 155,190 shares while the firm has a market capitalization of C$140.74 million.
• Raymond James Financial has set a price target of C$10.00 for Gran Tierra Energy, maintaining a "market perform" rating as of a report released on June 20th.

Shares of Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE crossed below its 200-day moving average during trading on Friday after Royal Bank Of Canada lowered their price target on the stock from C$9.00 to C$8.50. The stock has a 200-day moving average of C$7.01 and traded as low as C$5.34. Royal Bank Of Canada currently has a sector perform rating on the stock. Gran Tierra Energy shares last traded at C$5.49, with a volume of 155,190 shares.

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

Gran Tierra Energy Trading Up 1.6%

The firm has a fifty day simple moving average of C$6.69 and a 200-day simple moving average of C$6.91. The firm has a market cap of C$143.05 million, a P/E ratio of 2.67, a price-to-earnings-growth ratio of 0.23 and a beta of 1.57. The company has a debt-to-equity ratio of 176.57, a current ratio of 1.31 and a quick ratio of 0.58.

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.