Analysts at Canaccord Genuity initiated coverage on shares of Gear Energy Ltd (TSE:GXE) in a report released on Tuesday, reports. The brokerage set a “speculative buy” rating on the stock.

A number of other analysts have also recently issued reports on GXE. Desjardins set a C$0.75 target price on shares of Gear Energy in a research note on Tuesday, June 28th. AltaCorp Capital upgraded shares of Gear Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 30th. Finally, FirstEnergy Capital restated an “outperform” rating on shares of Gear Energy in a research note on Friday, July 8th.

Gear Energy (TSE:GXE) traded up 2.67% on Tuesday, reaching $0.77. 150,266 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $0.73 and its 200-day moving average is $0.65. The firm’s market cap is $146.68 million. Gear Energy has a 12 month low of $0.25 and a 12 month high of $1.08.

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Gear Energy Company Profile

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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