Gran Tierra Energy (GTE), the Materials sector company was revisited on May 7, and remains undervalued for at least one analyst on the street. The company received a Buy on May 7 from Scotiabank’s analyst Gavin Wylie, with a C$5.50 price target.
According to TipRanks.com, Wylie is a 4-star analyst with an average return of 8.8% and a 50.5% success rate. Wylie covers the Basic Materials sector, focusing on stocks such as Parex Resources Inc, Gran Tierra Energy, and TransCanada.
Currently, the analyst consensus on Gran Tierra Energy is a Moderate Buy with an average price target of C$5.13.
Based on Gran Tierra Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$2.63 million. In comparison, last year the company had a net profit of C$22.59 million.
Gran Tierra Energy, Inc. is an energy company, which engages in the exploration and production of oil and natural gas. It holds interests in the assets located in the Middle Magdalena Valley and Putumayo Basins. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$2.87, close to its 52-week low of C$2.76.
