BMO Capital Keeps a Buy Rating on Raging River Exploration

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Raging River Exploration (TSX: RRX). The company received a Buy today from BMO Capital’s analyst Ray Kwan, with a C$11 price target.

According to TipRanks.com, Kwan is ranked 0 out of 5 stars with an average return of -11.0% and a 27.4% success rate. Kwan covers the Basic Materials sector, focusing on stocks such as Pengrowth Energy Corp, Enerplus Corp, and Encana Corp.

Currently, the analyst consensus on Raging River Exploration is Moderate Buy and the average price target is C$11.69, representing a 42.4% upside.

In a report issued on June 2, RBC Capital also reiterated a Buy rating on the stock with a C$13 price target.

Based on Raging River Exploration’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$101 million and quarterly net profit of C$15.34 million. In comparison, last year the company earned revenue of C$45.47 million and had a GAAP net loss of C$7.85 million.

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 Friday at $8.21.