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Pantheon Resources (LON:PANR) Given Speculative Buy Rating at Canaccord Genuity Group

Pantheon Resources logo with Energy background

Key Points

  • Pantheon Resources received a "speculative buy" rating from Canaccord Genuity Group, with a target price of GBX 70, indicating a potential upside of 114% from its previous close.
  • The company’s shares opened at GBX 32.71 and have seen a significant increase of 13.2% in trading.
  • Pantheon Resources is focused on developing oil fields in Alaska, with certified resources exceeding 1 billion barrels and a goal to demonstrate a sustainable value of $5-$10/bbl by the end of 2028.
  • MarketBeat previews top five stocks to own in November.

Canaccord Genuity Group reissued their speculative buy rating on shares of Pantheon Resources (LON:PANR - Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a GBX 70 price objective on the stock.

Pantheon Resources Trading Down 1.5%

PANR stock traded down GBX 0.40 during trading on Monday, hitting GBX 25.85. The company had a trading volume of 13,553,442 shares, compared to its average volume of 8,412,863. Pantheon Resources has a one year low of GBX 14.20 and a one year high of GBX 73. The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The business has a 50-day moving average of GBX 25.98 and a 200-day moving average of GBX 36.33. The stock has a market cap of £320.23 million, a PE ratio of -2,559.41 and a beta of -0.36.

Pantheon Resources Company Profile

(Get Free Report)

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS"). Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.

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