Lycos Energy (CVE:LCX) Hits New 52-Week High - Time to Buy?

Key Points

• Lycos Energy (CVE:LCX) hit a new 52-week high, trading as high as C$2.41 and last at C$2.35 on a volume of 272,232 shares after previously closing at C$2.28.
• National Bank Financial upgraded the stock from "hold" to "outperform" and raised its price target to C$3.00, while consensus sits at a "Moderate Buy" with an average target of C$1.85 (three Buys, one Hold).
• Lycos is a junior oil and gas producer in Western Canada with a market cap of C$256.0M, a negative P/E of -2.55 (indicating losses), and 50-/200-day moving averages of C$1.77 and C$1.28 respectively.

Lycos Energy Inc. (CVE:LCX - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as C$2.41 and last traded at C$2.35, with a volume of 272232 shares changing hands. The stock had previously closed at C$2.28.

Analyst Ratings Changes

Separately, National Bank Financial upgraded shares of Lycos Energy from a "hold" rating to an "outperform" rating and raised their price target for the stock from C$2.50 to C$3.00 in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$1.85.

Lycos Energy Price Performance

The company has a fifty day moving average of C$1.77 and a 200-day moving average of C$1.28. The firm has a market capitalization of C$256.01 million, a PE ratio of -2.55 and a beta of -0.07.

Lycos Energy Company Profile

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.

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