Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Canaccord Genuity’s analyst Jenny Xenos reiterates their Buy rating on the shares of Gran Tierra Energy (TSX: GTE), with a C$7 price target.
Xenos observed:
“We hosted GTE’s management for a series of non-deal-related institutional meetings in Toronto. The story was well received, with the company having addressed prior operational issues and anticipating many potential catalysts in the near term, including exploration drilling results, appraisal of the Ayombero discovery and of the La Luna fairway, growth in production and CF, reserve upside and potential M&A. We believe that GTE represents an attractive investment opportunity for the following reasons.”
Xenos has an average return of 26.9% when recommending Gran Tierra Energy.
According to TipRanks.com, Xenos is ranked #223 out of 4856 analysts.
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Currently, the analyst consensus on Gran Tierra Energy is a Strong Buy with an average price target of C$6.38.
Based on Gran Tierra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$26.21 million. In comparison, last year the company had a GAAP net loss of C$9.15 million.
Gran Tierra Energy, Inc. engages in the exploration and production of oil and natural gas. It operates through the following geographical segments: Colombia, Peru, Brazil, and All Other. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$4.11.
