Tamarack Valley Energy (TSE:TVE) Raised to “Buy” at Canaccord Genuity Group

Tamarack Valley Energy (TSE:TVE – Get Free Report) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Friday,BayStreet.CA reports. The firm presently has a C$15.00 price target on the stock, up from their prior price target of C$12.00. Canaccord Genuity Group’s target price suggests a potential upside of 19.71% from the company’s previous close.

Other analysts have also issued research reports about the company. Roth Mkm set a C$15.00 target price on Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Raymond James Financial upgraded Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$12.00 to C$15.00 in a report on Friday. ATB Cormark Capital Markets upped their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Royal Bank Of Canada upped their target price on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Acumen Capital upped their target price on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Buy” and a consensus target price of C$12.73.

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Tamarack Valley Energy Trading Down 2.9%

Shares of TSE TVE traded down C$0.37 during trading hours on Friday, reaching C$12.53. The stock had a trading volume of 1,091,828 shares, compared to its average volume of 2,187,481. The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 37.62. The firm has a market cap of C$5.99 billion, a price-to-earnings ratio of -69.61 and a beta of 0.46. The business’s fifty day moving average price is C$11.86 and its two-hundred day moving average price is C$9.75. Tamarack Valley Energy has a 52-week low of C$4.35 and a 52-week high of C$13.97.

Tamarack Valley Energy (TSE:TVE – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. The company had revenue of C$375.55 million during the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%. Analysts expect that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Tamarack Valley Energy Company Profile

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Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.

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