Canaccord Genuity Group Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target upped by stock analysts at Canaccord Genuity Group from C$8.50 to C$9.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential downside of 6.93% from the stock’s previous close.

Several other analysts have also issued reports on TVE. Raymond James Financial lowered shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. ATB Cormark Capital Markets lifted their price target on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday. Desjardins increased their target price on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada boosted their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$10.11.

Tamarack Valley Energy Stock Up 1.5%

Tamarack Valley Energy stock traded up C$0.14 during mid-day trading on Thursday, reaching C$9.67. The company’s stock had a trading volume of 1,024,740 shares, compared to its average volume of 1,771,631. The company has a market capitalization of C$4.71 billion, a price-to-earnings ratio of -56.88 and a beta of 0.87. Tamarack Valley Energy has a 12 month low of C$3.10 and a 12 month high of C$10.05. The business’s 50 day simple moving average is C$8.71 and its 200 day simple moving average is C$7.18. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73.

Tamarack Valley Energy (TSE:TVE) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. As a group, research analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.