GMP FirstEnergy’s Analyst Provides Guidance for This Canadian Energy Company


In a latest note to investors, a research analyst has provided a rating update for the Birchcliff Energy (BIR). Analyst Michael Dunn from GMP FirstEnergy remains bullish on the stock and has a C$6.25 price target.

According to TipRanks.com, Dunn is ranked 0 out of 5 stars with an average return of -8.9% and a 32.7% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, PrairieSky Royalty Ltd, and Crescent Point Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Birchcliff Energy with a C$5.11 average price target, which is a 36.6% upside from current levels. In a report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a C$4.25 price target.

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Based on Birchcliff Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$71.95 million. In comparison, last year the company had a net profit of C$25.82 million.

Birchcliff Energy Ltd. engages in the exploration, development and production of oil and natural gas. It produces and sells light crude oil, natural gas and natural gas liquids.

The company’s shares closed on Thursday at C$3.74.

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