Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its price target increased by analysts at Canadian Imperial Bank of Commerce from C$34.50 to C$35.25 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 11.02% from the company’s previous close.

A number of other equities analysts have also recently commented on TPZ. TD increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial cut shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price on the stock. in a research note on Monday, March 30th. ATB Cormark Capital Markets boosted their price target on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. BMO Capital Markets upped their price objective on shares of Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday. Finally, Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$34.07.

Topaz Energy Price Performance

TSE TPZ traded down C$0.15 on Tuesday, hitting C$31.75. The company had a trading volume of 155,114 shares, compared to its average volume of 575,954. The company has a market capitalization of C$4.91 billion, a PE ratio of 36.49 and a beta of 0.35. The company’s fifty day moving average price is C$31.57 and its 200-day moving average price is C$30.63. The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17. Topaz Energy has a 12-month low of C$24.37 and a 12-month high of C$33.91.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share for the quarter. The firm had revenue of C$115.39 million during the quarter. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%. As a group, analysts predict that Topaz Energy will post 0.2019855 earnings per share for the current year.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.