Gran Tierra Energy (TSE:GTE) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• Gran Tierra Energy (TSE:GTE) passed above its 50‑day moving average (C$10.62), trading as high as C$12.22 and last at C$11.77 on volume of 65,913 shares.
• Analyst activity includes upgrades from Canaccord (to Buy, C$14 target) and Raymond James (to Moderate Buy, C$15 target) while Roth MKM cut to Hold; consensus rating is Moderate Buy with a C$11.83 price target.
• Fundamentals remain weak: the company reported C($5.43) EPS for the quarter, a negative net margin (−32.07%) and ROE (−56.05%), very high debt‑to‑equity (316.85) and low liquidity (current ratio 0.60).

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$10.62 and traded as high as C$12.22. Gran Tierra Energy shares last traded at C$11.77, with a volume of 65,913 shares trading hands.

Analyst Ratings Changes

GTE has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded Gran Tierra Energy from a "hold" rating to a "buy" rating and upped their price target for the company from C$10.00 to C$14.00 in a research report on Tuesday, April 14th. Roth Mkm lowered Gran Tierra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 29th. Finally, Raymond James Financial upgraded Gran Tierra Energy from a "hold" rating to a "moderate buy" rating and upped their target price for the company from C$9.00 to C$15.00 in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Gran Tierra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of C$11.83.

Gran Tierra Energy Trading Down 3.7%

The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 316.85. The firm has a 50-day moving average of C$10.62 and a 200 day moving average of C$7.76. The company has a market cap of C$415.47 million, a P/E ratio of -2.16, a price-to-earnings-growth ratio of 0.23 and a beta of -0.14.

Gran Tierra Energy (TSE:GTE - Get Free Report) NYSEMKT: GTE last announced its earnings results on Wednesday, March 4th. The company reported C($5.43) EPS for the quarter. The business had revenue of C$169.06 million for the quarter. Gran Tierra Energy had a negative net margin of 32.07% and a negative return on equity of 56.05%. On average, analysts predict 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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