Lycos Energy (CVE:LCX) Reaches New 12-Month Low - Time to Sell?

Key Points

• Lycos Energy Inc.'s shares have hit a new 52-week low, trading as low as C$1.20 and closing recently at C$1.29 with a trading volume of 34,699 shares.
• Analysts have adjusted their price targets for the company, with BMO Capital Markets lowering their target from C$3.50 to C$2.50, and National Bankshares reducing their target from C$4.75 to C$2.00.
• Lycos Energy, a junior resource company focused on petroleum and natural gas development in Western Canada, has a market capitalization of C$66.51 million and a P/E ratio of 6.58.

Lycos Energy Inc. (CVE:LCX - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$1.20 and last traded at C$1.29, with a volume of 34699 shares. The stock had previously closed at C$1.26.

Analyst Upgrades and Downgrades

LCX has been the subject of a number of research reports. National Bank Financial upgraded Lycos Energy to a "hold" rating in a report on Friday, May 30th. National Bankshares cut Lycos Energy from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from C$4.75 to C$2.00 in a report on Tuesday, June 3rd. BMO Capital Markets dropped their target price on Lycos Energy from C$3.50 to C$2.50 in a report on Tuesday, June 3rd. Finally, ATB Capital dropped their target price on shares of Lycos Energy from C$2.80 to C$2.25 and set an "outperform" rating for the company in a report on Tuesday, June 3rd.

Lycos Energy Stock Up 2.4%

The firm's 50-day moving average is C$1.36 and its 200-day moving average is C$1.84. The company has a market cap of C$67.04 million and a PE ratio of 6.63.

About Lycos Energy

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.