Desjardins Keeps Their Buy Rating on Leucrotta Exploration

By Austin Angelo

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Leucrotta Exploration (TSXV: LXE). Analyst Jamie Kubik from Desjardins remains bullish on the stock and has a C$3 price target.

Kubik has an average return of 28.5% when recommending Leucrotta Exploration.

According to TipRanks.com, Kubik is ranked #4306 out of 4569 analysts.

Currently, the analyst consensus on Leucrotta Exploration is Moderate Buy and the average price target is C$3, representing a 55.4% upside.

In a report issued on May 29, RBC Capital also reiterated a Buy rating on the stock with a C$3 price target.

Based on Leucrotta Exploration’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$2.08 million and GAAP net loss of C$1.66 million. In comparison, last year the company earned revenue of C$2.19 million and had a GAAP net loss of C$2.77 million.

Leucrotta Exploration, Inc. engages in the oil and natural gas production, exploration and acquisition in the Dawson-Sunrise area of British Columbia. The company was founded on June 10, 2014 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $1.93.