Canacol Energy Receives a Buy from Canaccord Genuity

By Austin Angelo

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Jenny Xenos from Canaccord Genuity remains bullish on Canacol Energy (TSX: CNE) and has a C$5.35 price target.

Xenos has an average return of 2.0% when recommending Canacol Energy.

According to TipRanks.com, Xenos is ranked #3366 out of 4575 analysts.

Canacol Energy has an analyst consensus of Strong Buy, with a price target consensus of C$5.80.

Based on Canacol Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$55.03 million and GAAP net loss of C$10.51 million. In comparison, last year the company earned revenue of C$31.18 million and had a net profit of C$633.3K.

Canacol Energy Ltd. operates as an international oil and gas company, which engages in the production, development, appraisal, and exploration of hydrocarbons. The company was founded by Charle A. Gamba, Luis Baena and David Anthony Winter on July 20, 1970 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $4.06.