Gran Tierra Energy (GTE) Reaches New 12-Month High at $3.86

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$3.86 and last traded at C$3.84, with a volume of 196637 shares. The stock had previously closed at C$3.78.

A number of equities analysts recently issued reports on GTE shares. CIBC increased their target price on shares of Gran Tierra Energy from C$3.00 to C$3.50 in a research report on Tuesday, January 23rd. Scotiabank reiterated an “outperform” rating and issued a C$5.50 target price on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. Royal Bank of Canada increased their target price on shares of Gran Tierra Energy from C$4.60 to C$4.80 and gave the company a “top pick” rating in a research report on Friday, March 2nd. Eight Capital increased their target price on shares of Gran Tierra Energy from C$5.50 to C$6.25 in a research report on Tuesday, February 6th. Finally, Canaccord Genuity increased their target price on shares of Gran Tierra Energy from C$5.00 to C$5.50 in a research report on Wednesday, April 11th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Gran Tierra Energy has a consensus rating of “Buy” and an average target price of C$4.85.

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Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.08 by C($0.03). Gran Tierra Energy had a negative net margin of 31.22% and a negative return on equity of 16.58%. The business had revenue of C$161.53 million during the quarter, compared to analyst estimates of C$158.56 million.

In other Gran Tierra Energy news, insider Gmt Capital Corp purchased 11,300 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was bought at an average cost of C$2.73 per share, with a total value of C$30,849.00. Also, Director Brooke Nelson Wade purchased 150,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was acquired at an average cost of C$2.56 per share, with a total value of C$384,000.00. Insiders acquired a total of 221,680 shares of company stock valued at $579,215 over the last three months.

An institutional investor recently raised its position in Gran Tierra Energy stock. JPMorgan Chase & Co. grew its holdings in Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) by 78.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,545 shares of the company’s stock after purchasing an additional 173,178 shares during the period. JPMorgan Chase & Co. owned about 0.10% of Gran Tierra Energy worth $895,000 as of its most recent SEC filing.

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Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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