Yangarra Resources (TSE:YGR) Shares Cross Below Fifty Day Moving Average - What's Next?

Key Points

• Yangarra Resources shares fell below their 50-day moving average of C$1.60, trading as low as C$1.58.
• ATB Cormark upgraded the stock to Outperform and raised its price target to C$2.20. Analysts’ consensus rating is Moderate Buy, with a C$1.73 target.
• The company reported quarterly EPS of C$0.07 and revenue of C$35.67 million; analysts expect full-year EPS of C$0.49.

Yangarra Resources Ltd. (TSE:YGR - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$1.60 and traded as low as C$1.58. Yangarra Resources shares last traded at C$1.58, with a volume of 153,462 shares changing hands.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets raised shares of Yangarra Resources from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$1.80 to C$2.20 in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$1.73.

Yangarra Resources Price Performance

The company has a fifty day simple moving average of C$1.60 and a 200-day simple moving average of C$1.37. The company has a market cap of C$166.84 million, a P/E ratio of 6.87 and a beta of -0.87. The company has a debt-to-equity ratio of 20.89, a current ratio of 1.52 and a quick ratio of 0.91.

Yangarra Resources (TSE:YGR - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The oil and gas exploration company reported C$0.07 earnings per share for the quarter. The business had revenue of C$35.67 million during the quarter. Yangarra Resources had a return on equity of 4.26% and a net margin of 19.92%. On average, sell-side analysts predict that Yangarra Resources Ltd. will post 0.49 earnings per share for the current year.

About Yangarra Resources

Yangarra Resources Ltd is a junior oil and gas company which is engaged in the exploration, development, and production of natural gas and oil with operations in Western Canada. The company has its operations in Central Alberta. It generates its revenue from the sale of crude oil and natural gas products.

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