Yangarra Resources (TSE:YGR) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Yangarra Resources Ltd. (TSE:YGR) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$1.50 and traded as high as C$1.56. Yangarra Resources shares last traded at C$1.53, with a volume of 67,168 shares changing hands.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upgraded shares of Yangarra Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$1.80 to C$2.20 in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$1.73.

Yangarra Resources Price Performance

The firm has a market cap of C$174.23 million, a price-to-earnings ratio of 9.17 and a beta of -0.83. The company has a debt-to-equity ratio of 20.90, a quick ratio of 0.91 and a current ratio of 1.56. The business has a 50 day simple moving average of C$1.51 and a 200-day simple moving average of C$1.40.

Yangarra Resources (TSE:YGR) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas exploration company reported C$0.11 EPS for the quarter. The firm had revenue of C$39.21 million during the quarter. Yangarra Resources had a return on equity of 3.31% and a net margin of 17.15%. Equities research analysts expect that Yangarra Resources Ltd. will post 0.490566 earnings per share for the current year.

About Yangarra Resources

Yangarra Resources Ltd is a junior oil and gas company which is engaged in the exploration, development, and production of natural gas and oil with operations in Western Canada. The company has its operations in Central Alberta. It generates its revenue from the sale of crude oil and natural gas products.