Tamarack Vall Energy (TVE) has received a rating update from a Wall Street analyst yesterday. The company received a Hold rating from RBC Capital’s analyst Shailender Randhawa, with a C$5 price target.
According to TipRanks.com, Randhawa is ranked 0 out of 5 stars with an average return of -5.2% and a 34.7% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
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Currently, the analyst consensus on Tamarack Vall Energy is a Strong Buy with an average price target of C$6.16.
Based on Tamarack Vall Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$3.06 million. In comparison, last year the company had a GAAP net loss of C$6.74 million.
Tamarack Valley Energy Ltd. engages in the identification, evaluation, and operation of oil and gas resources. Its portfolio includes Cardium Oil, Viking Oil, and Penny Barons Oil projects. The company was founded in August 2009 and is headquartered in Calgary, Canada.
The company’s shares closed on Wednesday at C$3.53.
