Lycos Energy (CVE:LCX) Trading 12.7% Higher – Still a Buy?

Lycos Energy Inc. (CVE:LCX) shares were up 12.7% on Monday . The stock traded as high as C$1.62 and last traded at C$1.60. Approximately 514,529 shares traded hands during trading, an increase of 49% from the average daily volume of 345,266 shares. The stock had previously closed at C$1.42.

Analysts Set New Price Targets

Separately, Haywood Securities raised shares of Lycos Energy from a “hold” rating to a “buy” rating and cut their price target for the company from C$1.50 to C$0.65 in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Lycos Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$1.60.

Lycos Energy Stock Up 9.9%

The stock has a market capitalization of C$83.05 million, a price-to-earnings ratio of -1.31 and a beta of 0.68. The company has a 50 day simple moving average of C$1.03 and a 200-day simple moving average of C$1.11.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.