Surge Energy (SGY), the Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Robert Fitzmartyn from GMP FirstEnergy reiterated a Buy rating, with a C$1.95 price target.
According to TipRanks.com, Fitzmartyn is ranked 0 out of 5 stars with an average return of -21.8% and a 16.4% success rate. Fitzmartyn covers the Basic Materials sector, focusing on stocks such as Kelt Exploration Ltd, Chinook Energy Inc, and Crew Energy Inc.
Surge Energy has an analyst consensus of Strong Buy, with a price target consensus of C$2.07, which is a 55.6% upside from current levels. In a report issued on May 9, Raymond James also maintained a Buy rating on the stock with a C$2 price target.
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Based on Surge Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$7.98 million. In comparison, last year the company had a GAAP net loss of C$1.11 million.
Surge Energy, Inc. engages in the exploration, development, and production of oil and gas properties. Its properties include Greater Sawn, Valhalla, Sparky, Shaunavon, and Minors that are located in Alberta and Saskatchewan. The company was founded on January 26, 1998 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$1.33, close to its 52-week low of C$1.22.
