Niko Resources Price Target Lowered to C$5.00 at BMO Capital Markets (NKO)
Research analysts at BMO Capital Markets decreased their price target on shares of Niko Resources (TSE:NKO) from C$9.00 to C$5.00 in a report released on Friday, ARN reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 77.30% from the company’s current price.
Niko Resources (TSE:NKO) traded up 11.35% during mid-day trading on Friday, hitting $3.14. The stock had a trading volume of 443,216 shares. Niko Resources has a 1-year low of $2.69 and a 1-year high of $18.50. The stock has a 50-day moving average of $5.84 and a 200-day moving average of $6.80. The company’s market cap is $220.5 million.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Niko Resources from C$6.00 to C$4.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Haywood Securities cut their price target on shares of Niko Resources from C$8.00 to C$5.00 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Niko Resources currently has a consensus rating of “Hold” and an average target price of C$7.28.
Niko Resources Ltd. (TSE:NKO) is engaged in the exploration for and development and production of natural gas and oil in India, Bangladesh, Indonesia, the Kurdistan region of Iraq, Trinidad, Pakistan and Madagascar.
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