Canacol Energy Ltd (CNE) Receives Average Rating of “Buy” from Brokerages
Shares of Canacol Energy Ltd (TSE:CNE) have been assigned an average rating of “Buy” from the six analysts that are currently covering the stock. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$5.79.
CNE has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a C$5.50 price target on shares of Canacol Energy in a report on Thursday, March 2nd. TD Securities reaffirmed a “buy” rating and issued a C$6.50 price target on shares of Canacol Energy in a report on Friday, February 17th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a C$6.25 price target on shares of Canacol Energy in a report on Tuesday, March 28th.
Shares of Canacol Energy (TSE:CNE) traded down 0.25% during trading on Friday, reaching $4.00. The company had a trading volume of 80,671 shares. The stock has a market capitalization of $698.40 million and a price-to-earnings ratio of 48.19. Canacol Energy has a 1-year low of $3.62 and a 1-year high of $4.80. The company’s 50 day moving average is $4.00 and its 200-day moving average is $4.12.
About Canacol Energy
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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