A Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. Bonterra Energy (BNE) received a Hold rating from GMP FirstEnergy’s analyst Cody Kwong, with a C$8.50 price target.
According to TipRanks.com, Kwong has currently no stars on a ranking scale of 0-5 stars, with an average return of -26.9% and a 23.1% success rate. Kwong covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Obsidian Energy Ltd, and Parex Resources Inc.
Currently, the analyst consensus on Bonterra Energy is a Hold with an average price target of C$7.75, a 29.8% upside from current levels. In a report issued on February 1, CIBC also reiterated a Hold rating on the stock with a C$7 price target.
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Based on Bonterra Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$5.76 million. In comparison, last year the company had a net profit of C$2.1 million.
Bonterra Energy Corp. engages in the development and production of oil and natural gas. It focuses in the development of Cardium zone of the Pembina and Willesden Green fields located in West Central Alberta. The company was founded by George Frederick Fink in 1998 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$5.97, close to its 52-week low of C$5.31.
