Gran Tierra Energy (TSE:GTE) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$11.77 and traded as high as C$12.55. Gran Tierra Energy shares last traded at C$12.01, with a volume of 60,924 shares.

Analyst Ratings Changes

A number of research firms recently weighed in on GTE. Canaccord Genuity Group raised Gran Tierra Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from C$10.00 to C$14.00 in a report on Tuesday, April 14th. Raymond James Financial raised Gran Tierra Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$9.00 to C$15.00 in a report on Monday, March 30th. Finally, Roth Mkm cut Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Gran Tierra Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$11.83.

Gran Tierra Energy Stock Down 4.8%

The company has a market cap of C$424.67 million, a price-to-earnings ratio of -1.45, a PEG ratio of 0.23 and a beta of 0.20. The company has a current ratio of 0.53, a quick ratio of 0.58 and a debt-to-equity ratio of 576.04. The business has a fifty day moving average of C$11.77 and a two-hundred day moving average of C$8.54.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its earnings results on Friday, May 8th. The company reported C($4.70) EPS for the quarter. Gran Tierra Energy had a negative net margin of 48.52% and a negative return on equity of 107.11%. The firm had revenue of C$239.21 million for the quarter. As a group, equities analysts anticipate that Gran Tierra Energy Inc. will post 0.1092044 EPS for the current fiscal year.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.