Canacol Energy (TSE:CNE) Hits New 52-Week Low – What’s Next?

Canacol Energy Ltd (TSE:CNE)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as C$2.86 and last traded at C$2.88, with a volume of 12162 shares changing hands. The stock had previously closed at C$2.90.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their target price on Canacol Energy from C$5.40 to C$5.50 and gave the company a “hold” rating in a report on Tuesday, July 16th.

Canacol Energy Price Performance

The business’s 50 day moving average price is C$3.42 and its 200-day moving average price is C$4.13. The company has a debt-to-equity ratio of 203.67, a quick ratio of 1.34 and a current ratio of 0.97. The firm has a market capitalization of C$96.19 million, a PE ratio of 6.00 and a beta of 0.82.

Canacol Energy (TSE:CNE) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported C($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.15 by C($2.00). Canacol Energy had a net margin of 3.45% and a return on equity of 3.50%. The firm had revenue of C$129.40 million during the quarter, compared to analysts’ expectations of C$119.69 million. As a group, equities research analysts forecast that Canacol Energy Ltd will post 0.2408551 earnings per share for the current year.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.