Bonterra Energy (BNE) Upgraded by Canaccord Genuity to Buy

Bonterra Energy (TSE:BNE) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Tuesday, April 9th, BayStreet.CA reports. The firm currently has a C$9.00 price target on the stock, up from their prior price target of C$7.50. Canaccord Genuity’s target price would suggest a potential upside of 41.73% from the stock’s current price.

A number of other brokerages have also commented on BNE. National Bank Financial dropped their price target on Bonterra Energy from C$10.25 to C$9.00 and set a “neutral” rating on the stock in a report on Friday, January 11th. Cormark dropped their price target on Bonterra Energy from C$19.00 to C$12.50 in a report on Friday, January 11th. Raymond James reiterated a “strong-buy” rating and set a C$14.00 price target on shares of Bonterra Energy in a report on Thursday, February 14th. CIBC lowered their target price on Bonterra Energy from C$9.00 to C$7.00 in a research note on Friday, February 1st. Finally, Eight Capital lowered their target price on Bonterra Energy from C$17.00 to C$13.75 in a research note on Friday, January 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of C$9.83.

Shares of BNE stock traded up C$0.25 during trading hours on Tuesday, reaching C$6.35. The company had a trading volume of 143,300 shares, compared to its average volume of 230,979. Bonterra Energy has a 12 month low of C$5.31 and a 12 month high of C$20.29. The company has a quick ratio of 0.19, a current ratio of 0.28 and a debt-to-equity ratio of 66.26. The firm has a market capitalization of $212.02 million and a PE ratio of 29.53.

Bonterra Energy (TSE:BNE) last posted its earnings results on Tuesday, March 12th. The company reported C($0.33) earnings per share for the quarter. The firm had revenue of C$34.99 million during the quarter, compared to the consensus estimate of C$65.10 million. On average, equities research analysts anticipate that Bonterra Energy will post 0.300000016713093 earnings per share for the current fiscal year.

In related news, Director George Frederick Fink purchased 18,000 shares of Bonterra Energy stock in a transaction dated Thursday, March 28th. The stock was bought at an average cost of C$6.36 per share, for a total transaction of C$114,480.00. Following the completion of the transaction, the director now owns 3,578,299 shares in the company, valued at C$22,757,981.64.

About Bonterra Energy

Bonterra Energy Corp., an upstream oil and gas company, engages in the production and sale of crude oil, natural gas, and natural gas liquids. It primarily focuses on the development of its Cardium zone within the Pembina and Willesden Green areas located in west central Alberta. The company also holds interests in the Shaunavon area located in southwest Saskatchewan, and the Prespatou area located in northeast British Columbia.

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Analyst Recommendations for Bonterra Energy (TSE:BNE)

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