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BlackPearl Resources (PXX) Gets a Buy Rating from AltaCorp Captial


BlackPearl Resources (TSX: PXX), the Materials sector company, has received a rating update from a Wall Street analyst on October 9. AltaCorp Captial’s analyst Nick Lupick reiterates their Buy rating on the shares, with a C$2.25 price target.

According to TipRanks.com, Lupick is a 4-star analyst with an average return of 4.5% and a 53.2% success rate. Lupick covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, BlackPearl Resources Inc, and Freehold Royalties Ltd.

Currently, the analyst consensus on BlackPearl Resources is a Strong Buy with an average price target of C$1.81.

BlackPearl Resources’ market cap is currently C$475M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.74.

BlackPearl Resources, Inc. engages in the exploration, development, and production of oil and gas. It focuses on heavy oil and oil sands projects in Western Canada. Its properties include Onion Lake, Mooney, and Blackrod. The company was founded on October 15, 1984 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$1.38.