Lycos Energy (CVE:LCX) Shares Up 2.9% – Should You Buy?

Lycos Energy Inc. (CVE:LCX) rose 2.9% during mid-day trading on Monday . The stock traded as high as C$0.73 and last traded at C$0.72. Approximately 108,640 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 284,198 shares. The stock had previously closed at C$0.70.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets lowered shares of Lycos Energy from an “outperform” rating to a “hold” rating and dropped their price objective for the company from C$2.50 to C$1.50 in a research note on Thursday, October 9th. Haywood Securities upgraded shares of Lycos Energy from a “hold” rating to a “buy” rating and lowered their target price for the stock from C$1.50 to C$0.65 in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$1.60.

Lycos Energy Stock Performance

The company’s 50 day moving average price is C$0.91 and its 200-day moving average price is C$1.14. The stock has a market cap of C$38.33 million, a P/E ratio of -0.61 and a beta of 11.70.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.