Storm Resources (SRX) Price Target Cut to C$4.75
Storm Resources (TSE:SRX) had its price target trimmed by Raymond James from C$5.00 to C$4.75 in a research report report published on Wednesday, BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock.
Separately, Royal Bank of Canada reiterated an average rating and set a C$3.00 price target (up previously from C$2.50) on shares of Storm Resources in a research note on Sunday, March 3rd.
Storm Resources stock opened at C$2.01 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 21.27. The stock has a market cap of $244.33 million and a price-to-earnings ratio of 6.09. Storm Resources has a fifty-two week low of C$1.43 and a fifty-two week high of C$3.30.
Storm Resources Company Profile
Storm Resources Ltd. operates as a crude oil and natural gas exploration and development company in Canada. The company primarily owns interest in lands covering an area of 121,000 net acres in 172 net sections located in Umbach, Nig, and Fireweed areas of Northeast British Columbia. As of December 31, 2018, it had 182,370 thousand barrels of oil equivalent of total proved plus probable reserves.
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