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Equities research analysts at RBC Capital began coverage on shares of Gear Energy (TSE:GXE) in a research note issued to investors on Wednesday, American Banking reports. The firm set an “outperform” rating and a C$4.50 price target on the stock. RBC Capital’s price target would suggest a potential upside of 33.93% from the stock’s previous close.

Shares of Gear Energy (TSE:GXE) traded up 3.87% on Wednesday, hitting $3.49. 161,460 shares of the company’s stock traded hands. Gear Energy has a 52 week low of $2.55 and a 52 week high of $3.60. The stock has a 50-day moving average of $3.28 and a 200-day moving average of $3.22. The company has a market cap of $188.3 million and a price-to-earnings ratio of 336.00.

Separately, analysts at Cormark initiated coverage on shares of Gear Energy in a research note on Friday, January 24th. They set a “buy” rating on the stock.

Gear Energy Ltd. is a junior Canadian crude oil and natural gas exploration and production company with a focus on heavy oil.

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