GMP FirstEnergy Downgrades Athabasca Oil to Hold

By Jason Carr

In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Athabasca Oil (TSX: ATH). The company received a Hold rating from GMP FirstEnergy’s analyst Michael Dunn, with a C$1.35 price target.

According to TipRanks.com, Dunn is ranked #4529 out of 4588 analysts.

Athabasca Oil has an analyst consensus of Moderate Buy, with a price target consensus of C$1.96.

The company has a one year high of C$2.14 and a one year low of C$0.96. Currently, Athabasca Oil has an average volume of 1.08M.

Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil.

The company’s shares closed on Tuesday at $1.04, close to its 52-week high of $2.14.