Spartan Delta (TSE:SDE) Reaches New 52-Week High – Here’s What Happened

Spartan Delta Corp. (TSE:SDE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$8.36 and last traded at C$8.31, with a volume of 85771 shares traded. The stock had previously closed at C$8.21.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SDE. Ventum Financial lifted their price objective on Spartan Delta from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Desjardins increased their price target on Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a report on Tuesday, January 6th. CIBC lifted their price target on shares of Spartan Delta from C$6.25 to C$9.00 in a research report on Wednesday, October 15th. Scotiabank lifted their price objective on shares of Spartan Delta from C$7.50 to C$8.00 in a report on Thursday, October 9th. Finally, TD Securities raised their price target on shares of Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Spartan Delta has a consensus rating of “Buy” and an average target price of C$8.86.

Spartan Delta Stock Up 1.2%

The stock has a fifty day simple moving average of C$7.40 and a two-hundred day simple moving average of C$5.92. The firm has a market cap of C$1.67 billion, a PE ratio of 41.55 and a beta of 0.22. The company has a current ratio of 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 28.49.

Spartan Delta Company Profile

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.