Desjardins Reaffirms Their Buy Rating on BlackPearl Resources

BlackPearl Resources (TSX: PXX), the Materials sector company, was revisited by a Wall Street analyst today. Desjardins’ analyst Justin Bouchard reiterates their Buy rating on the shares, with a C$1.50 price target.

According to TipRanks.com, Bouchard is ranked #4246 out of 4743 analysts.

Currently, the analyst consensus on BlackPearl Resources is Moderate Buy and the average price target is C$1.60, representing a 40.4% upside.

In a report issued on January 8, Canaccord Genuity also reiterated a Buy rating on the stock with a C$1.75 price target.

Based on BlackPearl Resources’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$28.4 million and GAAP net loss of C$5.45 million. In comparison, last year the company earned revenue of C$30.84 million and had a GAAP net loss of C$2.22 million.

BlackPearl Resources, Inc. is an exploration company. The company engages in the exploration, acquisition, development and production of oil and natural gas reserves. Its properties include Mooney, Blackrod and Onion Lake. BlackPearl Resources was founded on October 15, 1984 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at C$1.14.

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