Gran Tierra Energy (TSE:GTE) Hits New 52-Week High – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$16.16 and last traded at C$15.36, with a volume of 320590 shares traded. The stock had previously closed at C$9.67.

Analysts Set New Price Targets

Several research firms have recently commented on GTE. Roth Capital upgraded shares of Gran Tierra Energy from a “neutral” rating to a “buy” rating and set a C$14.50 price objective for the company in a research note on Tuesday, June 16th. Canaccord Genuity Group raised Gran Tierra Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$10.00 to C$14.00 in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$12.50.

Gran Tierra Energy Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.53 and a debt-to-equity ratio of 572.05. The company has a market capitalization of C$468.87 million, a price-to-earnings ratio of -1.60, a P/E/G ratio of 0.23 and a beta of -0.51. The business’s 50-day moving average is C$9.99 and its 200-day moving average is C$10.19.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings data on Friday, May 8th. The company reported C($4.70) earnings per share for the quarter. Gran Tierra Energy had a negative net margin of 48.52% and a negative return on equity of 107.11%. The company had revenue of C$239.21 million for the quarter. As a group, equities analysts predict that Gran Tierra Energy Inc. will post 0.1092044 earnings per share for the current year.

Gran Tierra Energy Company Profile

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.