Canacol Energy (CNE) Hits New 12-Month High at $4.76
Canacol Energy Ltd (TSE:CNE) hit a new 52-week high on Monday . The stock traded as high as C$4.76 and last traded at C$4.48, with a volume of 130583 shares. The stock had previously closed at C$4.48.
Several brokerages recently weighed in on CNE. Canaccord Genuity lowered Canacol Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$5.15 to C$4.75 in a report on Thursday, September 21st. Scotiabank reissued an “outperform” rating and issued a C$6.25 price objective on shares of Canacol Energy in a report on Tuesday, December 5th. Eight Capital reissued a “buy” rating and issued a C$7.00 price objective on shares of Canacol Energy in a report on Wednesday, September 27th. Finally, CIBC lowered Canacol Energy from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from C$5.50 to C$5.00 in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$5.75.
The firm has a market cap of $834.00, a price-to-earnings ratio of 29.44 and a beta of 0.04.
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Canacol Energy Company Profile
Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.
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