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

Key Points

• Gran Tierra Energy's stock price has recently crossed above its 50-day moving average at C$5.71, reaching a high of C$6.16 during trading.
• Brokerage ratings feature a consensus average of "Hold" with a target price of C$10.17; however, Royal Bank of Canada has revised its price objective down to C$8.50.
• The company holds a market cap of C$195.51 million, with notable financial ratios including a price-to-earnings ratio of -2.84 and a high debt-to-equity ratio of 176.57.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE's share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$5.71 and traded as high as C$6.16. Gran Tierra Energy shares last traded at C$5.54, with a volume of 88,627 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GTE. Raymond James Financial set a C$10.00 target price on Gran Tierra Energy and gave the stock a "market perform" rating in a research report on Friday, June 20th. Royal Bank Of Canada decreased their price objective on shares of Gran Tierra Energy from C$9.00 to C$8.50 and set a "sector perform" rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$10.17.

Gran Tierra Energy Stock Performance

The firm's 50 day moving average price is C$5.71 and its 200-day moving average price is C$6.20. The firm has a market cap of C$195.51 million, a price-to-earnings ratio of -2.84, a P/E/G ratio of 0.23 and a beta of 0.71. The company has a debt-to-equity ratio of 176.57, a current ratio of 1.31 and a quick ratio of 0.58.

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.

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