Gran Tierra Energy (TSE:GTE) Stock Price Down 8.8% – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s share price traded down 8.8% on Wednesday . The company traded as low as C$10.80 and last traded at C$10.95. 169,814 shares were traded during mid-day trading, an increase of 83% from the average session volume of 92,912 shares. The stock had previously closed at C$12.00.

Analyst Ratings Changes

Several equities research analysts have issued reports on GTE shares. Roth Mkm downgraded Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Royal Bank Of Canada reduced their price target on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating for the company in a research report on Friday, December 12th. Finally, Canaccord Genuity Group lowered Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 price objective on the stock. in a research note on Tuesday, January 27th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$8.17.

Gran Tierra Energy Price Performance

The business’s 50-day moving average price is C$8.17 and its 200 day moving average price is C$6.65. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 316.85. The company has a market capitalization of C$393.58 million, a P/E ratio of -2.05, a price-to-earnings-growth ratio of 0.23 and a beta of 1.01.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C($5.43) EPS for the quarter. Gran Tierra Energy had a negative net margin of 32.07% and a negative return on equity of 56.05%. The firm had revenue of C$169.06 million for the quarter. Analysts anticipate that Gran Tierra Energy Inc. will post 0.1092044 EPS for the current fiscal year.

Gran Tierra Energy Company Profile

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.