Lycos Energy (CVE:LCX) Shares Up 4.8% – Still a Buy?

Lycos Energy Inc. (CVE:LCX) shares rose 4.8% on Tuesday . The company traded as high as C$1.14 and last traded at C$1.09. Approximately 356,492 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 217,129 shares. The stock had previously closed at C$1.04.

Wall Street Analysts Forecast Growth

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

Lycos Energy Price Performance

The company has a fifty day simple moving average of C$0.73 and a 200-day simple moving average of C$1.10. The company has a market cap of C$58.03 million, a P/E ratio of -0.92 and a beta of 0.43.

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.