Canacol Energy’s (CNE) “Buy” Rating Reaffirmed at TD Securities
Canacol Energy Ltd. (TSE:CNE)‘s stock had its “buy” rating reaffirmed by stock analysts at TD Securities in a research note issued to investors on Tuesday. They currently have a C$5.50 price target on the oil and gas exploration company’s stock. TD Securities’ price objective points to a potential upside of 17.27% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Mackie lifted their price target on shares of Canacol Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Royal Bank Of Canada initiated coverage on shares of Canacol Energy in a research note on Tuesday, September 6th. They set a “sector perform” rating on the stock. Scotiabank reaffirmed an “outperform” rating and set a C$5.50 price target on shares of Canacol Energy in a research note on Thursday, September 22nd. RBC Capital Markets set a C$4.60 price target on shares of Canacol Energy and gave the stock a “sector perform” rating in a research note on Tuesday, September 6th. Finally, Canaccord Genuity lifted their price target on shares of Canacol Energy from C$5.25 to C$5.75 in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$5.26.
Shares of Canacol Energy (TSE:CNE) traded down 3.20% during midday trading on Tuesday, hitting $4.54. 933,915 shares of the stock traded hands. Canacol Energy has a one year low of $1.97 and a one year high of $4.77. The firm has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.10. The stock’s market cap is $775.88 million.
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Canacol Energy Company Profile
Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.
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