BMO Capital Thinks Whitecap Resources’ Stock is Going to Recover


A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Ray Kwan from BMO Capital reiterated a Buy rating on Whitecap Resources (WCP), with a C$7 price target.

According to TipRanks.com, Kwan has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.1% and a 29.4% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Paramount Resources Ltd, and Freehold Royalties Ltd.

Whitecap Resources has an analyst consensus of Strong Buy, with a price target consensus of C$9.96.

Based on Whitecap Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$69.53 million. In comparison, last year the company had a GAAP net loss of C$232 million.

Whitecap Resources, Inc. engages in the acquisition, development, optimization, and production of crude oil and natural gas. Its projects include Boundary Lake, Valhalla North, Elmworth, Wapiti, West and East Pembina, Ferrier, Elnora, Garrington, Kerrobert, Lucky Hills, Fosterton, and Gull Lake.

The company’s shares closed on Monday at C$4.67, close to its 52-week low of C$3.80.

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