Spartan Delta (TSE:SDE) Hits New 12-Month High - Still a Buy?

Key Points

• Spartan Delta Corp. reached a new 52-week high price of C$5.22 during trading, reflecting investor interest.
• Despite hitting a new high, analyst firm Desjardins downgraded the stock from a "buy" to a "hold" rating, setting a price target of C$5.75.
• The company has a market capitalization of C$1.04 billion and maintains a PE ratio of 27.42, indicating its earnings performance relative to its stock price.

Spartan Delta Corp. (TSE:SDE - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$5.22 and last traded at C$5.19, with a volume of 90751 shares trading hands. The stock had previously closed at C$5.10.

Analyst Upgrades and Downgrades

Separately, Desjardins lowered Spartan Delta from a "buy" rating to a "hold" rating and set a C$5.75 price objective for the company. in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$5.75.

Spartan Delta Trading Up 2.2%

The stock has a market cap of C$1.04 billion, a PE ratio of 27.42 and a beta of 0.68. The firm has a 50-day simple moving average of C$4.77 and a 200-day simple moving average of C$3.72. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49.

About Spartan Delta

Spartan Delta Corp is an oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties in Alberta. The company operates and focuses its activities on Peace River Arch and Central Alberta.

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