Donald Smith & CO. Inc. Invests $1.67 Million in Greenfire Resources Ltd. $GFR

Donald Smith & CO. Inc. acquired a new stake in Greenfire Resources Ltd. (NYSE:GFR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 295,849 shares of the company’s stock, valued at approximately $1,672,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Militia Capital Management LLC purchased a new position in Greenfire Resources in the 1st quarter worth $1,637,000. Moerus Capital Management LLC lifted its stake in Greenfire Resources by 37.9% in the first quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock worth $14,838,000 after purchasing an additional 642,312 shares during the last quarter. Saber Capital Managment LLC purchased a new stake in Greenfire Resources during the fourth quarter valued at about $3,270,000. Aegis Financial Corp boosted its position in Greenfire Resources by 133.1% during the first quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock valued at $2,639,000 after buying an additional 238,417 shares during the period. Finally, K2 Principal Fund L.P. grew its stake in shares of Greenfire Resources by 88.8% during the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock valued at $4,024,000 after buying an additional 397,685 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Greenfire Resources Stock Up 1.6%

Shares of NYSE GFR opened at $6.47 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. Greenfire Resources Ltd. has a 12 month low of $4.15 and a 12 month high of $7.16. The firm has a market capitalization of $811.40 million, a PE ratio of -23.11 and a beta of 0.19. The firm has a fifty day simple moving average of $6.05 and a two-hundred day simple moving average of $6.05.

Greenfire Resources (NYSE:GFR) last announced its earnings results on Wednesday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.30. The firm had revenue of $123.86 million for the quarter, compared to analyst estimates of $107.41 million. Greenfire Resources had a negative net margin of 6.36% and a negative return on equity of 3.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GFR shares. Royal Bank Of Canada assumed coverage on Greenfire Resources in a report on Monday, July 6th. They issued a “hold” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Greenfire Resources in a report on Thursday, August 13th. TD Securities upgraded Greenfire Resources to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets raised Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price target on the stock in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.50.

Greenfire Resources Company Profile

Greenfire Resources Ltd., together with its subsidiaries, engages in the development, exploration, and operation of oil and gas properties in the Athabasca oil sands region of Alberta. The company operates the Tier-1 oil sands assets located in Western Canada. It utilizes steam-assisted gravity drainage (SAGD) extraction technology, a situ thermal oil recovery process to recover diluted and non- diluted bitumen. The company is headquartered in Calgary, Canada.