Lycos Energy (CVE:LCX) Sets New 52-Week High - Here's Why

Key Points

• Shares hit a new 52-week high, trading as high as C$2.65 and last at C$2.61 (previous close C$2.50) on volume of 1,014,666, roughly a 2.4% intraday gain.
• National Bank Financial upgraded Lycos from "hold" to "outperform" and raised its price target to C$3.00; MarketBeat shows a consensus of Moderate Buy with a C$1.85 target (three Buys, one Hold).
• Lycos is a junior oil & gas producer in Western Canada with a market cap of C$276.53 million, a negative P/E (-2.75), 50-day/200-day moving averages of C$1.87/C$1.31, and a low beta (0.12).

Shares of Lycos Energy Inc. (CVE:LCX - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as C$2.65 and last traded at C$2.61, with a volume of 1014666 shares. The stock had previously closed at C$2.50.

Analyst Ratings Changes

Separately, National Bank Financial upgraded Lycos Energy from a "hold" rating to an "outperform" rating and increased their price target for the stock from C$2.50 to C$3.00 in a report on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$1.85.

Lycos Energy Stock Up 2.4%

The firm has a market capitalization of C$276.53 million, a price-to-earnings ratio of -2.75 and a beta of 0.12. The business's fifty day moving average is C$1.87 and its 200 day moving average is C$1.31.

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.

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