In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Journey Energy (TSX: JOY). On August 30, analyst Adam Gill gave a Buy rating to JOY and set a C$3.15 price target.
According to TipRanks.com, Gill is ranked #4461 out of 4876 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Journey Energy with a C$2.77 average price target, a 62.0% upside from current levels. In a report issued on August 30, Canaccord Genuity also upgraded the stock to Buy with a C$2.25 price target.
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Based on Journey Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$12.32 million. In comparison, last year the company had a net profit of C$7.96 million.
Journey Energy, Inc. is a Canadian exploration and production company focused on oil-weighted operations in western Canada. Its activities include drilling on its existing core lands, implementing water flood projects and executing on accretive acquisitions. The company was founded on June 26, 2007 and is headquartered in Alberta, Canada.
The company’s shares closed on Friday at C$1.71.
