Storm Resources (SRX) Hits New 12-Month Low at $2.41
Storm Resources Ltd. (TSE:SRX)’s share price hit a new 52-week low during trading on Monday . The company traded as low as C$2.41 and last traded at C$0.25, with a volume of 50753 shares traded. The stock had previously closed at C$0.26.
SRX has been the topic of a number of analyst reports. National Bank Financial cut shares of Storm Resources from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$4.50 to C$4.25 in a research report on Wednesday, November 15th. Raymond James Financial cut shares of Storm Resources from an “outperform” rating to a “market perform” rating in a research report on Friday, October 13th. Finally, GMP Securities decreased their price objective on shares of Storm Resources from C$6.25 to C$5.75 in a research report on Thursday, November 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of C$5.57.
About Storm Resources
Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.
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