GMP FirstEnergy’s Take on This Canadian Energy Stock

Source Energy Services Ltd (SHLEResearch Report), was revisited on July 8, yet the Wall Street analyst remains currently on the sidelines. On July 8, analyst Ian Gillies gave a Hold rating to SHLE and set a C$1 price target.

According to TipRanks.com, Gillies is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.5% and a 39.5% success rate. Gillies covers the Basic Materials sector, focusing on stocks such as TC Energy Corporation, Gibson Energy Inc, and Pembina Pipeline.

Source Energy Services Ltd has an analyst consensus of Hold, with a price target consensus of C$1.06, which is a 55.9% upside from current levels. In a report issued on July 9, Canaccord Genuity also downgraded the stock to Hold with a C$1 price target.

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The company has a one-year high of C$5.54 and a one-year low of C$0.67. Currently, Source Energy Services Ltd has an average volume of 75.55K.

Source Energy Services Ltd. engages in the production, supply, and distribution of northern white frac sand. The company operates through the following segments: United States, Canada, and Corporate. Its services include proppants, logistics, terminals, storage and transfer of chemicals, and field solutions.

The company’s shares closed on Thursday at C$0.68, close to its 52-week low of C$0.67.