Analyst Rating Update on This Canadian Energy Company

Bonavista Energy (BNPResearch Report), the Materials sector company, has received a rating update from a Wall Street analyst today. The company received a Sell rating from Raymond James’ analyst Jeremy Mccrea, with a C$0.60 price target.

According to TipRanks.com, Mccrea has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.0% and a 25.7% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Painted Pony Petroleum Ltd, and Freehold Royalties Ltd.

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The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Bonavista Energy with a C$12.27 average price target, implying a 2354.0% upside from current levels. In a report issued on July 18, CIBC also maintained a Sell rating on the stock with a C$0.40 price target.

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The company has a one-year high of C$1.60 and a one-year low of C$0.41. Currently, Bonavista Energy has an average volume of 602.9K.

Bonavista Energy Corp. engages in the exploration, development, and production of oil and gas properties. It produces natural gas; light, medium, and heavy oil; and natural gas liquids in the core areas of West Central and Deep Basin. The company was founded in 1997 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at C$0.50, close to its 52-week low of C$0.41.