Canaccord Genuity Group Raises Topaz Energy (TSE:TPZ) Price Target to C$29.50

Topaz Energy (TSE:TPZ) had its price objective increased by research analysts at Canaccord Genuity Group from C$29.00 to C$29.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 13.90% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. National Bankshares boosted their price objective on Topaz Energy from C$27.50 to C$28.50 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Jefferies Financial Group boosted their price objective on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. CIBC boosted their price objective on Topaz Energy from C$27.00 to C$30.00 in a research report on Monday, July 15th. Scotiabank boosted their target price on Topaz Energy from C$33.00 to C$34.00 in a research note on Friday, July 12th. Finally, Royal Bank of Canada boosted their target price on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Topaz Energy presently has a consensus rating of “Buy” and a consensus price target of C$28.63.

Topaz Energy Stock Up 5.3 %

Shares of TPZ traded up C$1.31 on Tuesday, hitting C$25.90. The company’s stock had a trading volume of 298,619 shares, compared to its average volume of 269,615. The company has a quick ratio of 7.17, a current ratio of 2.47 and a debt-to-equity ratio of 30.43. The firm’s fifty day moving average price is C$23.66 and its 200-day moving average price is C$22.02. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$26.10. The firm has a market capitalization of C$3.75 billion, a price-to-earnings ratio of 81.09 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Monday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.07 by C($0.03). Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. The business had revenue of C$70.88 million during the quarter, compared to analyst estimates of C$78.00 million. On average, equities research analysts expect that Topaz Energy will post 0.198902 EPS for the current year.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.