Gran Tierra Energy (GTE) Receives a Rating Update from a Top Analyst

In a report released on September 19, Luke Davis from RBC Capital maintained a Hold rating on Gran Tierra Energy (GTEResearch Report), with a price target of C$2.50. The company’s shares closed yesterday at $1.33.

Davis covers the Utilities sector, focusing on stocks such as Whitecap Resources, Gran Tierra Energy, and Athabasca Oil. According to TipRanks, Davis has an average return of 33.5% and a 60.66% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gran Tierra Energy with a $1.98 average price target.

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Based on Gran Tierra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $205.79 million and a net profit of $52.97 million. In comparison, last year the company earned a revenue of $96.62 million and had a GAAP net loss of $17.63 million

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Gran Tierra Energy, Inc. engages in the exploration and production of oil and natural gas in Colombia and Ecuador. It holds interests in the assets located in the Middle Magdalena Valley and Putumayo Basins. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.

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