Canaccord Genuity Downgrades Iron Bridge Resources Inc to Hold

By Ryan Adsit

On July 10, an analyst has provided a rating update for the NA sector company, Iron Bridge Resources Inc (TSX: IBR). Canaccord Genuity’s analyst Anthony Petrucci expressed some doubt on July 10 about the stock, as it was downgraded to Hold , with a C$0.80 price target.

Petrucci has an average return of 39.2% when recommending Iron Bridge Resources Inc.

According to TipRanks.com, Petrucci is ranked #2313 out of 4842 analysts.

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Iron Bridge Resources Inc has an analyst consensus of Moderate Sell, with a price target consensus of C$0.78.

Based on Iron Bridge Resources Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$1.15 million. In comparison, last year the company had a GAAP net loss of C$2.85 million.

Iron Bridge Resources, Inc. engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. Its projects include Elmworth Gold Creek, Waskahigan, Grizzly, Kaybob, Gilby, and Pine Creek areas of West Central Alberta. The company was founded on December 03, 2004 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$0.75.