Gran Tierra Energy (TSE:GTE) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of Gran Tierra Energy Inc. (TSE:GTE – Get Free Report) (NYSEMKT:GTE) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$11.45 and traded as high as C$12.75. Gran Tierra Energy shares last traded at C$12.74, with a volume of 42,507 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GTE shares. Canaccord Genuity Group raised shares of Gran Tierra Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from C$10.00 to C$14.00 in a research report on Tuesday, April 14th. Raymond James Financial upgraded shares of Gran Tierra Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$9.00 to C$15.00 in a research note on Monday, March 30th. Finally, Roth Mkm cut shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Gran Tierra Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$11.83.

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Gran Tierra Energy Trading Up 4.4%

The company has a debt-to-equity ratio of 576.04, a quick ratio of 0.58 and a current ratio of 0.53. The stock has a market capitalization of C$450.49 million, a price-to-earnings ratio of -1.54, a price-to-earnings-growth ratio of 0.23 and a beta of 0.20. The business has a fifty day simple moving average of C$11.45 and a 200 day simple moving average of C$8.25.

Gran Tierra Energy (TSE:GTE – Get Free Report) (NYSEMKT:GTE) last posted its earnings results on Friday, May 8th. The company reported C($4.70) earnings per share for the quarter. Gran Tierra Energy had a negative return on equity of 107.11% and a negative net margin of 48.52%.The firm had revenue of C$239.21 million for the quarter. As a group, research analysts expect that Gran Tierra Energy Inc. will post 0.1092044 EPS for the current year.

Gran Tierra Energy Company Profile

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Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.

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