BMO Capital Sticks to Their Buy Rating for Africa Oil

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Materials sector company, Africa Oil (TSX: AOI). Analyst David Round from BMO Capital remains bullish on the stock and has a C$2.80 price target.

According to TipRanks.com, Round is ranked #3939 out of 4596 analysts.

Africa Oil has an analyst consensus of Strong Buy, with a price target consensus of C$3.06.

The company has a one year high of C$2.81 and a one year low of C$1.71. Currently, Africa Oil has an average volume of 130.9K.

Africa Oil Corp. is an oil and gas exploration company based in Canada. It have assets in Kenya, Ethiopia, and Mali, as well as Puntland (Somalia) through its equity interest in Horn Petroleum Corp. The company was founded on March 29, 1983 and is headquartered in Vancouver, Canada.

The company’s shares closed on Monday at $1.88, close to its 52-week high of $2.81.