BlackPearl Resources Inc. (PXX) Price Target Raised to C$1.75
BlackPearl Resources Inc. (TSE:PXX) had its price target lifted by research analysts at Canaccord Genuity from C$1.50 to C$1.75 in a note issued to investors on Wednesday. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 28.68% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada started coverage on shares of BlackPearl Resources in a research report on Friday, June 24th. They issued a “sector perform” rating and a C$0.80 price target for the company. AltaCorp Capital upped their price objective on shares of BlackPearl Resources from C$1.00 to C$1.25 in a research note on Wednesday, August 10th. Barclays PLC upped their price objective on shares of BlackPearl Resources from C$1.00 to C$1.50 in a research note on Friday, July 22nd. Scotiabank reaffirmed a “sector perform” rating and issued a C$1.20 price objective on shares of BlackPearl Resources in a research note on Wednesday, July 13th. Finally, TD Securities upped their price objective on shares of BlackPearl Resources from C$1.10 to C$1.25 and gave the company a “hold” rating in a research note on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of C$1.31.
Shares of BlackPearl Resources (TSE:PXX) traded up 2.26% during midday trading on Wednesday, hitting $1.36. 241,793 shares of the company were exchanged. BlackPearl Resources has a one year low of $0.47 and a one year high of $1.49. The firm’s market capitalization is $456.48 million. The firm’s 50 day moving average price is $1.28 and its 200 day moving average price is $1.05.
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BlackPearl Resources Company Profile
BlackPearl Resources Inc is an oil and natural gas company, which is engaged in the business of oil and gas exploration, development and production in North America. The Company’s primary focus is on heavy oil and oil sands projects in Western Canada. Its core properties include Onion Lake, Saskatchewan, which is a conventional heavy oil property, as well as a thermal enhanced oil recovery project; Mooney, Alberta, which is a conventional heavy oil property using horizontal drilling and alkali, surfactant, polymer flooding, and Blackrod, Alberta, which is a bitumen property located in the Athabasca oil sands region using the Steam Assisted Gravity Drainage recovery process.
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