Storm Resources (SRX) Sets New 1-Year Low at $1.89

Storm Resources Ltd (TSE:SRX) shares hit a new 52-week low on Friday . The company traded as low as C$1.89 and last traded at C$1.92, with a volume of 5000 shares trading hands. The stock had previously closed at C$2.05.

A number of brokerages have recently weighed in on SRX. CIBC cut their price objective on Storm Resources from C$3.75 to C$3.00 in a report on Tuesday, January 23rd. National Bank Financial lowered Storm Resources from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$4.50 to C$4.25 in a report on Wednesday, November 15th. Finally, GMP Securities cut their price objective on Storm Resources from C$6.25 to C$5.75 in a report on Thursday, November 16th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$5.11.

The company has a market capitalization of $244.33, a P/E ratio of 13.40 and a beta of 0.14.

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About Storm Resources

Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.

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