Raging River Exploration Gets a Buy Rating from RBC Capital

By Austin Angelo

Raging River Exploration (TSX: RRX), the Materials sector company, has received a rating update from a Wall Street analyst today. Analyst Biraj Borkhataria from RBC Capital rated Raging River Exploration (TSX: RRX) a Buy, setting a C$13 price target.

According to TipRanks.com, Borkhataria is a 1-star analyst with an average return of -1.2% and a 33.3% success rate. Borkhataria covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Continental Resources, and Royal Dutch Shell A.

Currently, the analyst consensus on Raging River Exploration is Moderate Buy and the average price target is C$11.71, representing a 42.5% upside.

In a report issued on May 23, TD Securities also reiterated a Buy rating on the stock with a C$11.50 price target.

Raging River Exploration’s market cap is currently C$1.9B and has a P/E ratio of 39.8.

Raging River Exploration, Inc. is a junior oil and gas producer. It engages in crude oil and natural gas exploration and development. The company was founded on December 15, 2011 and is headquartered in Calgary, Canada.

The company’s shares closed last Thursday at $8.22.