In a report released yesterday, Jeremy Mccrea from BMO Capital maintained a Buy rating on Spartan Delta, with a price target of C$7.50.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Spartan Delta’s strong performance and promising outlook. The company has demonstrated impressive results in the Duvernay and Deep Basin regions, with production rates exceeding expectations and showcasing significant advancements in technology. This has led to Spartan Delta being the best performing stock in its sector, with an 82% increase year-to-date.
Moreover, the company’s financial health is robust, as evidenced by a $200 million increase in credit capacity and a production beat in the third quarter. The management’s strategic positioning in emerging areas and successful asset consolidation further bolster confidence in Spartan Delta’s future prospects. These elements combined have led to an increase in the target price to $7.50, reinforcing the Buy recommendation.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DALXF in relation to earlier this year.