Raymond James Keeps a Hold Rating on Athabasca Oil (ATH)
In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Athabasca Oil (ATH). Raymond James’ analyst Chris Cox reiterates their Hold rating on the shares, with a C$1.25 price target.
According to TipRanks.com, Cox is a 2-star analyst with an average return of 0.0% and a 52.6% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.
Athabasca Oil has an analyst consensus of Moderate Buy, with a price target consensus of C$1.51.
Based on Athabasca Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$31.42 million. In comparison, last year the company had a GAAP net loss of C$210 million.
Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil.
The company’s shares closed on Thursday at C$0.90, close to its 52-week low of C$0.83.