In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Bonavista Energy (BNP). The company received a Hold rating from RBC Capital’s analyst Michael Harvey, with a C$1.50 price target.
According to TipRanks.com, Harvey is a 3-star analyst with an average return of 0.6% and a 41.5% success rate. Harvey covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Birchcliff Energy Ltd.
The word on The Street in general, suggests a Hold analyst consensus rating for Bonavista Energy with a C$1.51 average price target, a 25.8% upside from current levels. In a report released today, BMO Capital also reiterated a Hold rating on the stock with a C$1.50 price target.
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Based on Bonavista Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$17.81 million. In comparison, last year the company had a GAAP net loss of C$159 million.
Bonavista Energy Corp. engages in the exploration, development, and production of oil and gas properties. It produces natural gas; light, medium, and heavy oil; and natural gas liquids in the core areas of West Central and Deep Basin. The company was founded in 1997 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$1.20.
