Blurbs

RBC Capital Keeps a Hold Rating on Gran Tierra Energy (GTE)

RBC Capital analyst Luke Davis maintained a Hold rating on Gran Tierra Energy (GTEResearch Report) on June 30 and set a price target of C$3.00. The company’s shares closed last Friday at $1.15.

According to TipRanks.com, Davis is a top 100 analyst with an average return of 37.0% and a 58.0% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Whitecap Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gran Tierra Energy with a $2.30 average price target.

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Based on Gran Tierra Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $175 million and net profit of $14.12 million. In comparison, last year the company earned revenue of $95.49 million and had a GAAP net loss of $37.42 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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