Storm Resources (SRX) Stock Price Down 900%

Shares of Storm Resources Ltd. (TSE:SRX) were down 900% during trading on Thursday . The stock traded as low as C$2.80 and last traded at C$2.80. Approximately 92,446 shares changed hands during trading, an increase of 40% from the average daily volume of 65,918 shares. The stock had previously closed at C$0.28.

Several equities analysts have recently weighed in on SRX shares. BMO Capital Markets lowered their price target on Storm Resources to C$4.50 and set a “market perform” rating on the stock in a report on Wednesday, August 16th. National Bank Financial lowered their price target on Storm Resources from C$5.75 to C$4.50 and set an “outperform” rating on the stock in a report on Friday, October 13th. Raymond James Financial cut Storm Resources from an “outperform” rating to a “market perform” rating in a report on Friday, October 13th. Finally, GMP Securities lowered their price target on Storm Resources from C$6.25 to C$5.75 in a report on Thursday, November 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of C$5.57.

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About Storm Resources

Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.

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