In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Pine Cliff Energy (TSX: PNE). Analyst Chris MacCulloch from Desjardins remains neutral on the stock and has a C$0.50 price target.
According to TipRanks.com, MacCulloch is ranked #2309 out of 4840 analysts.
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Pine Cliff Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$0.55.
Based on Pine Cliff Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$15.58 million. In comparison, last year the company had a GAAP net loss of C$2.12 million.
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of oil and natural gas. Its business of exploring for metals with assets are located in Utah, Ontario, and Northwest Territories. The company was founded on November 10, 2004 and is headquartered in Calgary, Canada.
The company’s shares closed on Wednesday at C$0.44.
