Gran Tierra Energy (TSE:GTE) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$6.02 and traded as high as C$6.76. Gran Tierra Energy shares last traded at C$6.67, with a volume of 30,138 shares changing hands.

Analyst Upgrades and Downgrades

GTE has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating on the stock in a research report on Friday, December 12th. Roth Capital upgraded shares of Gran Tierra Energy to a “strong-buy” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.25.

Gran Tierra Energy Trading Up 2.8%

The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 176.57. The stock has a 50-day simple moving average of C$6.04 and a 200 day simple moving average of C$5.88. The company has a market cap of C$242.13 million, a price-to-earnings ratio of -2.67, a PEG ratio of 0.23 and a beta of 0.87.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its quarterly earnings data on Thursday, October 30th. The company reported C($0.57) earnings per share for the quarter. Gran Tierra Energy had a net margin of 7.17% and a return on equity of 11.08%. The firm had revenue of C$207.82 million during the quarter. As a group, equities research analysts predict that Gran Tierra Energy Inc. will post 0.1092044 EPS 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.