Gran Tierra Energy (TSE:GTE) Reaches New 52-Week High – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$11.71 and last traded at C$11.08, with a volume of 99725 shares traded. The stock had previously closed at C$10.68.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GTE shares. Canaccord Genuity Group cut Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 price target on the stock. in a research report on Tuesday, January 27th. Roth Mkm cut Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada dropped their target price on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating on the stock in a report on Friday, December 12th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$8.17.

Gran Tierra Energy Stock Up 3.7%

The company has a market capitalization of C$390.73 million, a PE ratio of -4.31, a price-to-earnings-growth ratio of 0.23 and a beta of 1.01. The firm’s 50-day simple moving average is C$7.41 and its 200 day simple moving average is C$6.38. The company has a debt-to-equity ratio of 316.85, a quick ratio of 0.58 and a current ratio of 0.60.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($5.43) EPS for the quarter. The company had revenue of C$169.06 million for the quarter. Gran Tierra Energy had a negative return on equity of 56.05% and a negative net margin of 32.07%. As a group, equities research analysts forecast that Gran Tierra Energy Inc. will post 0.1092044 earnings per share for the current year.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.