Pine Cliff Energy Ltd (TSE:PNE) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$0.12 and last traded at C$0.12, with a volume of 18000 shares changing hands. The stock had previously closed at C$0.12.
Several brokerages recently issued reports on PNE. CIBC lowered their price target on Pine Cliff Energy from C$0.50 to C$0.25 in a report on Thursday, July 18th. National Bank Financial set a C$0.30 price target on Pine Cliff Energy and gave the company a “sector perform” rating in a report on Friday, May 10th. GMP Securities lowered their price target on Pine Cliff Energy from C$0.20 to C$0.15 in a report on Wednesday, August 7th. Canaccord Genuity lowered their price target on Pine Cliff Energy from C$0.50 to C$0.30 in a report on Tuesday, July 9th. Finally, TD Securities lowered their price target on Pine Cliff Energy from C$0.20 to C$0.15 and set a “hold” rating for the company in a report on Thursday, August 8th.
The company has a market cap of $37.70 million and a PE ratio of -0.52. The company has a debt-to-equity ratio of 179.03, a current ratio of 0.95 and a quick ratio of 0.73. The business’s fifty day simple moving average is C$0.16.
In related news, insider Robert Disbrow purchased 450,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of C$0.18 per share, for a total transaction of C$81,000.00. Following the acquisition, the insider now owns 19,162,083 shares in the company, valued at C$3,449,174.94. Over the last quarter, insiders purchased 725,000 shares of company stock valued at $118,200.
Pine Cliff Energy Company Profile (TSE:PNE)
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.
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