Gran Tierra Energy (TSE:GTE) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$11.77 and traded as high as C$12.55. Gran Tierra Energy shares last traded at C$12.01, with a volume of 60,924 shares changing hands.

Analyst Ratings Changes

A number of analysts have 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 target price for the company from C$10.00 to C$14.00 in a research report on Tuesday, April 14th. Raymond James Financial raised shares of Gran Tierra Energy from a “hold” rating to a “moderate buy” rating and increased their target price for the company from C$9.00 to C$15.00 in a research report on Monday, March 30th. Finally, Roth Mkm downgraded shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$11.83.

Gran Tierra Energy Price Performance

The stock has a market capitalization of C$415.13 million, a P/E ratio of -1.42, a PEG ratio of 0.23 and a beta of 0.20. The business has a fifty day simple moving average of C$11.81 and a 200-day simple moving average of C$8.62. The company has a debt-to-equity ratio of 576.04, a quick ratio of 0.58 and a current ratio of 0.53.

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

About Gran Tierra Energy

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.