Rockhopper Exploration (LON:RKH) Trading 14.2% Higher - Still a Buy?

Key Points

• Rockhopper Exploration's share price rose by 14.2% during trading, reaching a high of GBX 74.60 ($1.00) and closing at GBX 73.80 ($0.99), significantly up from its previous close of GBX 64.60 ($0.86).
• Canaccord Genuity Group upgraded Rockhopper's stock rating to a “speculative buy” and raised its price target from GBX 49 ($0.65) to GBX 86 ($1.15).
• The company has a market capitalization of £590.49 million and reported an earnings per share (EPS) of GBX 7.20 ($0.10) for the last quarter, with analysts predicting a slight decline in EPS for the current year.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s share price traded up 14.2% during trading on Monday . The stock traded as high as GBX 74.60 ($1.00) and last traded at GBX 73.80 ($0.99). 7,970,426 shares changed hands during trading, an increase of 143% from the average session volume of 3,275,869 shares. The stock had previously closed at GBX 64.60 ($0.86).

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the stock a "speculative buy" rating in a research report on Monday, June 9th.

Rockhopper Exploration Stock Up 14.2%

The firm has a market cap of £590.49 million, a price-to-earnings ratio of 37,492.38, a P/E/G ratio of 0.20 and a beta of 0.87. The firm has a fifty day simple moving average of GBX 53.80 and a 200-day simple moving average of GBX 45.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27.

Rockhopper Exploration (LON:RKH - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) EPS for the quarter. As a group, sell-side analysts expect that Rockhopper Exploration plc will post -0.1899958 EPS for the current year.

Insider Activity at Rockhopper Exploration

In related news, insider Alison Baker sold 50,000 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.63), for a total value of £23,500 ($31,396.13). Insiders own 19.22% of the company's stock.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.

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