Storm Resources Received its Third Buy in a Row

By Jason Carr

Analysts seem to be feeling optimistic about Storm Resources (TSXV: SRX) lately with another positive rating update this time from GMP FirstEnergy. The company received a Buy today from analyst Robert Fitzmartyn, with a C$7.25 price target.

According to TipRanks.com, Fitzmartyn is ranked #4145 out of 4572 analysts.

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

Based on Storm Resources’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$25.03 million and GAAP net loss of C$12.9 million. In comparison, last year the company earned revenue of C$15.2 million and had a GAAP net loss of C$4.98 million.

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 Tuesday at $3.95.