BMO Capital Reiterates Their Hold Rating on Storm Resources

By Ryan Adsit

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Storm Resources (TSXV: SRX) received a Hold rating from BMO Capital’s analyst Joe Levesque, with a C$4.50 price target.

According to TipRanks.com, Levesque is a 4-star analyst with an average return of 9.7% and a 72.2% success rate. Levesque covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Athabasca Oil Corporation, and Advantage Oil & Gas Ltd.

Storm Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$5.85.

The company has a one year high of C$5.66 and a one year low of C$3.24. Currently, Storm Resources has an average volume of 89.11K.

Storm Resources Ltd. is an exploration company, which engages in the provision of exploration, acquisition and development of oil, natural gas and natural gas liquids reserves. It focuses on the identification and exploitation of opportunities to develop oil and natural gas assets. The company was founded on June 8, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $3.80.