Gran Tierra Energy (TSE:GTE) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Gran Tierra Energy shares fell below their 200-day moving average, reaching C$8.93 and last trading at C$8.98, compared with the C$9.97 average.
• Analysts remain broadly positive: three rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of C$12.50.
• The company reported a quarterly loss of C$4.70 per share on C$239.21 million in revenue, alongside a negative 48.52% net margin and high debt-to-equity ratio of 572.05.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.97 and traded as low as C$8.93. Gran Tierra Energy shares last traded at C$8.98, with a volume of 29,729 shares.

Wall Street Analysts Forecast Growth

GTE has been the subject of a number of research reports. Canaccord Genuity Group raised shares of Gran Tierra Energy from a "hold" rating to a "buy" rating and increased their target price for the stock from C$10.00 to C$14.00 in a report on Tuesday, April 14th. Roth Capital raised shares of Gran Tierra Energy from a "neutral" rating to a "buy" rating and set a C$14.50 price target on the stock in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$12.50.

Gran Tierra Energy Stock Performance

The company has a debt-to-equity ratio of 572.05, a quick ratio of 0.58 and a current ratio of 0.53. The company has a market cap of C$317.53 million, a price-to-earnings ratio of -1.08, a P/E/G ratio of 0.23 and a beta of -0.42. The company has a fifty day moving average of C$10.07 and a two-hundred day moving average of C$9.97.

Gran Tierra Energy (TSE:GTE - Get Free Report) NYSEMKT: GTE last issued its earnings results on Friday, May 8th. The company reported C($4.70) earnings per share (EPS) for the quarter. The firm had revenue of C$239.21 million during the quarter. Gran Tierra Energy had a negative return on equity of 107.11% and a negative net margin of 48.52%. Equities research analysts anticipate that Gran Tierra Energy Inc. will post 0.1092044 EPS for the current year.

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. 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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