Niko Resources Given New C$2.00 Price Target at Canaccord Genuity (NKO)
Equities research analysts at Canaccord Genuity boosted their price objective on shares of Niko Resources (TSE:NKO) from C$1.50 to C$2.00 in a research note issued to investors on Wednesday, AR Network reports. The firm currently has a “sell” rating on the stock. Canaccord Genuity’s price objective indicates a potential downside of 21.26% from the stock’s previous close.
Niko Resources (TSE:NKO) opened at 2.54 on Wednesday. Niko Resources has a one year low of $1.12 and a one year high of $11.60. The stock has a 50-day moving average of $2.05 and a 200-day moving average of $4.64. The company’s market cap is $178.3 million.
Niko Resources (TSE:NKO) last announced its earnings results on Wednesday, November 13th. The company reported ($2.12) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.14) by $1.98. On average, analysts predict that Niko Resources will post $-3.56 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on NKO. Analysts at TD Securities raised their price target on shares of Niko Resources from C$7.00 to C$8.00 in a research note to investors on Monday, December 23rd. They now have a “speculative buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Niko Resources from C$1.50 to C$2.50 in a research note to investors on Friday, November 22nd. They now have a “market perform” rating on the stock. Finally, analysts at RBC Capital downgraded shares of Niko Resources from a “sector perform” rating to an “underperform” rating in a research note to investors on Friday, November 22nd. They now have a C$2.00 price target on the stock, down previously from C$10.00. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$5.17.
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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