Gran Tierra Energy (TSE:GTE) Reaches New 12-Month High – Still a Buy?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) hit a new 52-week high on Thursday . The company traded as high as C$8.68 and last traded at C$8.49, with a volume of 203141 shares changing hands. The stock had previously closed at C$7.70.

Analysts Set New Price Targets

GTE has been the subject of a number of analyst reports. Roth Mkm raised Gran Tierra Energy to a “strong-buy” rating in a research report on Friday, December 12th. Canaccord Genuity Group downgraded Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 price target for the company. in a report on Tuesday. Finally, Royal Bank Of Canada cut their price objective on shares of Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating on the stock in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$8.17.

Gran Tierra Energy Stock Performance

The company has a market cap of C$297.55 million, a P/E ratio of -3.28, a PEG ratio of 0.23 and a beta of 0.87. The business’s 50 day simple moving average is C$6.21 and its 200 day simple moving average is C$5.92. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 176.57.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its earnings results on Thursday, October 30th. The company reported C($0.57) earnings per share (EPS) for the quarter. The business had revenue of C$207.82 million for the quarter. Gran Tierra Energy had a return on equity of 11.08% and a net margin of 7.17%. Sell-side analysts predict that Gran Tierra Energy Inc. will post 0.1092044 earnings per share for the current fiscal 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.