Gran Tierra Energy (TSE:GTE) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) from a hold rating to a buy rating in a research report report published on Tuesday,BayStreet.CA reports. They currently have C$14.00 target price on the stock, up from their prior target price of C$10.00.

A number of other equities analysts have also recently weighed in on the company. Raymond James Financial raised Gran Tierra Energy from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$9.00 to C$15.00 in a research note on Monday, March 30th. Roth Mkm cut Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$11.83.

Gran Tierra Energy Price Performance

TSE:GTE opened at C$10.82 on Tuesday. The business’s 50-day moving average price is C$10.03 and its 200 day moving average price is C$7.49. The firm has a market cap of C$381.94 million, a P/E ratio of -1.99, a PEG ratio of 0.23 and a beta of -0.14. Gran Tierra Energy has a 52-week low of C$4.33 and a 52-week high of C$13.58. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 316.85.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($5.43) earnings per share for the quarter. The company had revenue of C$169.06 million during the quarter. Gran Tierra Energy had a negative return on equity of 56.05% and a negative net margin of 32.07%. As a group, sell-side analysts predict that Gran Tierra Energy will post 0.1092044 earnings per share for the current fiscal year.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.