Gran Tierra Energy (TSE:GTE) Downgraded by Canaccord Genuity Group to “Hold”

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$8.00 price objective on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 4.03% from the stock’s current price.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada dropped their price target on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating on the stock in a research note on Friday, December 12th. Roth Mkm raised Gran Tierra Energy to a “strong-buy” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Gran Tierra Energy currently has an average rating of “Moderate Buy” and an average price target of C$8.17.

Gran Tierra Energy Stock Performance

TSE:GTE traded up C$0.23 during trading hours on Tuesday, hitting C$7.69. 41,508 shares of the company were exchanged, compared to its average volume of 88,661. The company has a debt-to-equity ratio of 176.57, a current ratio of 1.31 and a quick ratio of 0.58. Gran Tierra Energy has a 52-week low of C$4.33 and a 52-week high of C$8.64. The stock has a market capitalization of C$271.43 million, a price-to-earnings ratio of -2.99, a PEG ratio of 0.23 and a beta of 0.87. The company’s 50 day moving average price is C$6.15 and its 200-day moving average price is C$5.90.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last posted its quarterly earnings data on Thursday, October 30th. The company reported C($0.57) EPS for the quarter. Gran Tierra Energy had a return on equity of 11.08% and a net margin of 7.17%.The company had revenue of C$207.82 million for the quarter. As a group, research analysts forecast that Gran Tierra Energy will post 0.1092044 earnings per share for the current 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.