Journey Energy Receives a Hold from GMP FirstEnergy

By Carrie Williams

Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. GMP FirstEnergy’s analyst Robert Fitzmartyn reiterates their Hold rating on the shares of Journey Energy (TSX: JOY), with a C$2.50 price target.

According to TipRanks.com, Fitzmartyn is ranked #4503 out of 4588 analysts.

Journey Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.13.

Based on Journey Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$23.59 million and quarterly net profit of C$3.92 million. In comparison, last year the company earned revenue of C$15.83 million and had a GAAP net loss of C$6.98 million.

Journey Energy, Inc. is a Canadian exploration and production company focused on oil-weighted operations in western Canada. Its activities include drilling on its existing core lands, implementing water flood projects and executing on accretive acquisitions. The company was founded on June 26, 2007 and is headquartered in Alberta, Canada.

The company’s shares closed on Tuesday at $1.78, close to its 52-week high of $3.30.