Canaccord Genuity Begins Coverage on Gear Energy Ltd (GXE)
Equities researchers at Canaccord Genuity assumed coverage on shares of Gear Energy Ltd (TSE:GXE) in a research note issued on Tuesday, StockTargetPrices.com reports. The firm set a “speculative buy” rating on the stock.
GXE has been the topic of a number of other research reports. AltaCorp Capital raised Gear Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 30th. Desjardins set a C$0.75 price objective on Gear Energy in a report on Tuesday, June 28th. Finally, FirstEnergy Capital reissued an “outperform” rating on shares of Gear Energy in a report on Friday, July 8th.
Shares of Gear Energy (TSE:GXE) traded up 3.333% during trading on Tuesday, hitting $0.775. The company’s stock had a trading volume of 157,196 shares. The company’s market capitalization is $147.64 million. Gear Energy has a 1-year low of $0.25 and a 1-year high of $1.08. The firm’s 50 day moving average is $0.73 and its 200-day moving average is $0.65.
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About Gear Energy
Gear Energy Ltd. is a junior oil and gas company engaged in the exploration for, and the acquisition, development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin, with a focus on heavy oil. The Company’s oil and gas properties are located in Alberta, British Columbia and Saskatchewan.
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