Bonavista Energy’s (BNP) “Underperform” Rating Reiterated at Raymond James

Bonavista Energy (TSE:BNP)‘s stock had its “underperform” rating restated by investment analysts at Raymond James in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. They presently have a C$0.50 target price on the stock. Raymond James’ target price would indicate a potential downside of 5.66% from the company’s previous close.

A number of other brokerages have also recently issued reports on BNP. CIBC decreased their price objective on shares of Bonavista Energy from C$1.00 to C$0.40 in a report on Thursday, July 18th. National Bank Financial dropped their price objective on Bonavista Energy from C$0.60 to C$0.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. TD Securities lowered Bonavista Energy from a “buy” rating to a “reduce” rating in a research note on Thursday, August 8th. Royal Bank of Canada decreased their target price on Bonavista Energy from C$1.50 to C$0.75 in a report on Thursday, July 18th. Finally, BMO Capital Markets decreased their target price on Bonavista Energy from C$0.65 to C$0.60 in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Sell” and a consensus price target of C$0.87.

BNP opened at C$0.53 on Wednesday. The company has a debt-to-equity ratio of 50.71, a current ratio of 0.82 and a quick ratio of 0.31. The company has a market cap of $149.27 million and a price-to-earnings ratio of 6.16. The firm has a 50 day simple moving average of C$0.55 and a 200 day simple moving average of C$0.60. Bonavista Energy has a fifty-two week low of C$0.41 and a fifty-two week high of C$1.51.

In other Bonavista Energy news, insider Sime Armoyan bought 298,500 shares of Bonavista Energy stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average cost of C$0.45 per share, for a total transaction of C$134,325.00. Following the completion of the acquisition, the insider now owns 40,334,100 shares of the company’s stock, valued at approximately C$18,150,345.

About Bonavista Energy

Bonavista Energy Corporation acquires, develops, and holds interests in oil and natural gas properties and assets in Western Canada. The company was founded in 1987 and is headquartered in Calgary, Canada.

See Also: Inverted Yield Curve

Analyst Recommendations for Bonavista Energy (TSE:BNP)

Receive News & Ratings for Bonavista Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bonavista Energy and related companies with's FREE daily email newsletter.