Touchstone Exploration (LON:TXP) Trading 10.8% Higher - Time to Buy?

Shares of Touchstone Exploration Inc. (LON:TXP - Get Free Report) shot up 10.8% during mid-day trading on Monday . The company traded as high as GBX 21 ($0.28) and last traded at GBX 20.75 ($0.28). 1,374,997 shares changed hands during mid-day trading, an increase of 120% from the average session volume of 623,599 shares. The stock had previously closed at GBX 18.74 ($0.25).

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group reissued a "buy" rating and set a GBX 60 ($0.81) target price on shares of Touchstone Exploration in a research report on Thursday, March 20th. Shore Capital reaffirmed a "house stock" rating on shares of Touchstone Exploration in a research report on Thursday, May 8th.

Touchstone Exploration Trading Up 1.7%

The company has a market capitalization of £61.39 million, a PE ratio of -6.98 and a beta of 0.70. The stock's fifty day moving average is GBX 19.80 and its two-hundred day moving average is GBX 22.71.

About Touchstone Exploration

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders. The Company's strategy is to leverage the Board's extensive oil recovery experience and capability to develop international onshore properties that create shareholder value. In Trinidad, the Company's interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.