Yangarra Resources (TSE:YGR) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Yangarra Resources Ltd. (TSE:YGR) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$1.58 and traded as high as C$1.80. Yangarra Resources shares last traded at C$1.72, with a volume of 250,785 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised shares of Yangarra Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$1.80 to C$2.20 in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Yangarra Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$1.73.

Yangarra Resources Price Performance

The firm has a 50 day moving average price of C$1.58 and a 200 day moving average price of C$1.42. The stock has a market cap of C$181.62 million, a P/E ratio of 9.56 and a beta of -0.83. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 20.90.

Yangarra Resources (TSE:YGR) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.11 earnings per share for the quarter. The business had revenue of C$39.21 million for the quarter. Yangarra Resources had a net margin of 17.15% and a return on equity of 3.31%. On average, analysts forecast that Yangarra Resources Ltd. will post 0.49 EPS for the current fiscal year.

About Yangarra Resources

Yangarra Resources Ltd is a junior oil and gas company which is engaged in the exploration, development, and production of natural gas and oil with operations in Western Canada. The company has its operations in Central Alberta. It generates its revenue from the sale of crude oil and natural gas products.