Canaccord Genuity Thinks Pine Cliff Energy’s Stock is Going to Recover

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Pine Cliff Energy (TSX: PNE). Analyst Anthony Petrucci from Canaccord Genuity rated Pine Cliff Energy (TSX: PNE) a Buy on today, setting a C$0.80 price target.

According to TipRanks.com, Petrucci is ranked 0 out of 5 stars with an average return of -10.4% and a 24.7% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Abraxas Petroleum Corp, and Pengrowth Energy Corp.

Pine Cliff Energy has an analyst consensus of Hold, with a price target consensus of C$0.54.

Based on Pine Cliff Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$21.29 million and GAAP net loss of C$30.21 million. In comparison, last year the company earned revenue of C$35.17 million and had a net profit of C$3.21 million.

Pine Cliff Energy Ltd. is an oil and gas exploration company, which engages in the exploration and development of crude oil; natural gas and liquids. It engages in the business of exploring for metals with assets located in Utah, Ontario, Northwest Territories and Nunavut. The company was founded on November 10, 2004 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at C$0.32, close to its 52-week low of C$0.29.

Leave a Reply

Your email address will not be published. Required fields are marked *