Petrominerales (TSE: PMG) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Thursday. They currently have a $8.50 price target on the stock, down from their previous price target of $11.00.

Several other analysts have also recently commented on the stock. Analysts at CIBC cut their price target on shares of Petrominerales from $11.50 to $9.75 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Separately, analysts at Scotiabank cut their price target on shares of Petrominerales from $14.00 to $13.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Finally, analysts at Raymond James cut their price target on shares of Petrominerales from $8.00 to $7.50 in a research note to investors on Thursday. They now have a “market perform” rating on the stock.

Shares of Petrominerales traded down 9.07% during mid-day trading on Thursday, hitting $6.72. Petrominerales has a 52 week low of $7.02 and a 52 week high of $18.73. The stock’s 50-day moving average is currently $9.00. The company has a market cap of $574.5 million and a P/E ratio of 2.29.

Petrominerales Ltd. (Petrominerales) is an oil and gas company involved in the exploration, development and production of crude oil in Colombia and Peru.

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