Pine Cliff Energy (TSE:PNE) Stock Rating Lowered by Canaccord Genuity Group

Pine Cliff Energy (TSE:PNEGet Free Report) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BayStreet.CA reports. They presently have a C$1.10 target price on the stock, down from their previous target price of C$1.20. Canaccord Genuity Group’s price objective indicates a potential upside of 1.85% from the stock’s current price.

Several other equities analysts have also recently weighed in on PNE. Stifel Nicolaus dropped their price objective on Pine Cliff Energy from C$1.20 to C$1.10 in a research note on Thursday, May 9th. Desjardins dropped their price objective on Pine Cliff Energy from C$1.25 to C$1.20 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd.

View Our Latest Stock Analysis on PNE

Pine Cliff Energy Stock Performance

TSE PNE opened at C$1.08 on Wednesday. The company has a fifty day simple moving average of C$1.01 and a 200 day simple moving average of C$1.19. Pine Cliff Energy has a 12-month low of C$0.94 and a 12-month high of C$1.68. The company has a current ratio of 0.47, a quick ratio of 1.48 and a debt-to-equity ratio of 75.17. The company has a market cap of C$385.46 million, a P/E ratio of 107.00 and a beta of 0.49.

Pine Cliff Energy (TSE:PNEGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported C($0.01) earnings per share for the quarter. Pine Cliff Energy had a negative net margin of 0.42% and a negative return on equity of 0.68%. The company had revenue of C$47.67 million for the quarter. Sell-side analysts predict that Pine Cliff Energy will post 0.0099907 earnings per share for the current fiscal year.

About Pine Cliff Energy

(Get Free Report)

Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas and crude oil in the Western Canadian Sedimentary Basin. The company primarily holds interest in oil and gas properties in the Viking and Ghost Pine area of Central Alberta, as well as in the Southern Alberta, Southern Saskatchewan, and Edson areas.

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