Gran Tierra Energy Received its Third Buy in a Row

By Carrie Williams

Analysts seem to be optimistic about Gran Tierra Energy (TSX: GTE) lately as another research firm gave the stock a Buy rating today. Analyst Gavin Wylie from Scotiabank remains bullish on the stock and has a C$6 price target.

According to TipRanks.com, Wylie is ranked #1365 out of 4575 analysts.

Currently, the analyst consensus on Gran Tierra Energy is Strong Buy and the average price target is C$5.80, representing an 85.3% upside.

In a report issued on May 29, Canaccord Genuity also reiterated a Buy rating on the stock with a C$5 price target.

The company has a one year high of C$4.44 and a one year low of C$3.07. Currently, Gran Tierra Energy has an average volume of 817.6K.

Gran Tierra Energy, Inc. engages in the exploration and production of oil and natural gas. It operates through the following geographical segments: Colombia, Peru, Brazil, and All Other. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $3.13, close to its 52-week low of $3.07.