In a new note to investors today, an analyst has provided a rating update for Storm Resources (SRX). Analyst Kurt Molnar from Raymond James rated Storm Resources (SRX) a Buy, setting a C$4.75 price target.
According to TipRanks.com, Molnar is ranked 0 out of 5 stars with an average return of -20.7% and a 18.8% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Birchcliff Energy Ltd, and Bonterra Energy Corp.
Storm Resources has an analyst consensus of Strong Buy, with a price target consensus of C$3.87.
Based on Storm Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$26.81 million. In comparison, last year the company had a net profit of C$8.89 million.
Storm Resources Ltd. operates as development company, which engages in the exploration and acquisition of oil, natural gas, and liquids reserves. It focuses on the combination of exploratory and development drilling with strategic asset and corporate acquisitions.
The company’s shares closed on Wednesday at C$2.04.
