Royal Bank Of Canada Increases BlackPearl Resources Inc. (PXX) Price Target to C$1.50
BlackPearl Resources Inc. (TSE:PXX) had its price target raised by investment analysts at Royal Bank Of Canada from C$1.25 to C$1.50 in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s price objective suggests a potential upside of 11.11% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Barclays PLC lifted their target price on BlackPearl Resources from C$1.00 to C$1.50 in a report on Friday, July 22nd. AltaCorp Capital lifted their target price on BlackPearl Resources from C$1.00 to C$1.25 in a report on Wednesday, August 10th. TD Securities lifted their target price on BlackPearl Resources from C$1.10 to C$1.25 and gave the company a “hold” rating in a report on Wednesday, August 10th. Scotiabank reiterated a “sector perform” rating and issued a C$1.20 target price on shares of BlackPearl Resources in a report on Wednesday, August 10th. Finally, Canaccord Genuity lifted their target price on BlackPearl Resources from C$1.50 to C$1.75 and gave the company a “speculative buy” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of C$1.36.
BlackPearl Resources (TSE:PXX) traded down 0.74% on Thursday, hitting $1.35. The stock had a trading volume of 123,414 shares. The company’s 50 day moving average is $1.28 and its 200 day moving average is $1.06. BlackPearl Resources has a 12-month low of $0.47 and a 12-month high of $1.49. The firm’s market cap 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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