Canaccord Genuity Boosts Gran Tierra Energy (TSE:GTE) Price Target to C$5.50

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) had its price target upped by Canaccord Genuity from C$5.00 to C$5.50 in a research note published on Wednesday, April 11th.

Several other research analysts have also weighed in on the stock. CIBC lowered their target price on shares of Gran Tierra Energy from C$4.00 to C$3.50 in a research report on Tuesday, March 20th. Royal Bank of Canada upped their price target on shares of Gran Tierra Energy from C$4.60 to C$4.80 and gave the company a top pick rating in a report on Friday, March 2nd. Scotiabank set a C$5.75 price target on shares of Gran Tierra Energy and gave the company an outperform rating in a report on Thursday, March 1st. Finally, Eight Capital upped their price objective on shares of Gran Tierra Energy from C$5.50 to C$6.25 in a research note on Tuesday, February 6th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of C$4.85.

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Shares of Gran Tierra Energy stock opened at C$3.99 on Wednesday. Gran Tierra Energy has a 52-week low of C$2.41 and a 52-week high of C$4.05.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.03). Gran Tierra Energy had a negative return on equity of 16.58% and a negative net margin of 31.22%. The firm had revenue of C$161.53 million for the quarter, compared to analyst estimates of C$158.56 million.

In other Gran Tierra Energy news, insider Gmt Capital Corp acquired 12,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of C$2.88 per share, with a total value of C$34,560.00. Also, Director Brooke Nelson Wade acquired 150,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was acquired at an average cost of C$2.56 per share, with a total value of C$384,000.00. Insiders have purchased 224,780 shares of company stock valued at $588,980 in the last ninety days.

A hedge fund recently raised its stake in Gran Tierra Energy stock. State Street Corp raised its stake in shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,942 shares of the company’s stock after acquiring an additional 8,119 shares during the quarter. State Street Corp owned approximately 0.09% of Gran Tierra Energy worth $840,000 at the end of the most recent quarter.

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About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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