In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Athabasca Oil (TSX: ATH). The company received a Hold rating from Scotiabank’s analyst Jason Bouvier, with a C$2 price target.
According to TipRanks.com, Bouvier is ranked #3644 out of 4878 analysts.
Currently, the analyst consensus on Athabasca Oil is a Strong Buy with an average price target of C$2.54.
Based on Athabasca Oil’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$19.27 million. In comparison, last year the company had a net profit of C$24.23 million.
Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil.
The company’s shares closed on Thursday at C$1.54.
