RBC Capital Markets Increases BlackPearl Resources Inc. (PXX) Price Target to C$1.50
BlackPearl Resources Inc. (TSE:PXX) had its price target increased by investment analysts at RBC Capital Markets from C$1.25 to C$1.50 in a research note issued to investors on Thursday. RBC Capital Markets’ target price suggests a potential upside of 11.11% from the company’s current price.
A number of other equities analysts have also commented on the stock. Royal Bank Of Canada started coverage on shares of BlackPearl Resources in a research report on Friday, June 24th. They set a “sector perform” rating and a C$0.80 price target on the stock. AltaCorp Capital raised their price target on shares of BlackPearl Resources from C$1.00 to C$1.25 in a research report on Wednesday, August 10th. Barclays PLC raised their price target on shares of BlackPearl Resources from C$1.00 to C$1.50 in a research report on Friday, July 22nd. Scotiabank reaffirmed a “sector perform” rating and set a C$1.20 price target on shares of BlackPearl Resources in a research report on Wednesday, July 13th. Finally, Canaccord Genuity raised their target price on shares of BlackPearl Resources from C$1.50 to C$1.75 and gave the company a “speculative buy” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of C$1.36.
Shares of BlackPearl Resources (TSE:PXX) traded down 0.74% during trading on Thursday, reaching $1.35. 123,414 shares of the company traded hands. The company has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.06. BlackPearl Resources has a 12-month low of $0.47 and a 12-month high of $1.49. The firm’s market capitalization is $453.12 million.
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About BlackPearl Resources
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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