Canacol Energy (TSE:CNE) Sets New 1-Year Low – What’s Next?

Shares of Canacol Energy Ltd (TSE:CNE) reached a new 52-week low on Tuesday . The company traded as low as C$2.76 and last traded at C$2.79, with a volume of 7655 shares. The stock had previously closed at C$2.79.

Analyst Upgrades and Downgrades

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

Canacol Energy Stock Performance

The stock’s 50 day moving average is C$3.33 and its two-hundred day moving average is C$4.08. The firm has a market capitalization of C$106.08 million, a P/E ratio of 6.26 and a beta of 0.82. The company has a debt-to-equity ratio of 203.67, a current ratio of 0.97 and a quick ratio of 1.34.

Canacol Energy (TSE:CNE) last posted its quarterly earnings results on Thursday, August 8th. The oil and gas exploration company reported C($0.85) earnings per share 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 company had revenue of C$129.40 million during the quarter, compared to analyst estimates of C$119.69 million. As a group, equities analysts anticipate that Canacol Energy Ltd will post 0.2408551 earnings per share for the current fiscal year.

Canacol Energy Company Profile

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.