RBC Capital Keeps Their Hold Rating on Bonavista Energy

By Carrie Williams

In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Bonavista Energy (TSX: BNP). RBC Capital’s analyst Michael Harvey reiterates their Hold rating on the shares, with a C$1.75 price target.

According to TipRanks.com, Harvey is ranked #704 out of 4771 analysts.

Currently, the analyst consensus on Bonavista Energy is Hold and the average price target is C$1.88, representing a 37.2% upside.

In a report issued on April 5, AltaCorp Captial also reiterated a Hold rating on the stock with a C$1.65 price target.

Based on Bonavista Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$139 million and GAAP net loss of C$159 million. In comparison, last year the company earned revenue of C$130 million and had a net profit of C$88.43 million.

Bonavista Energy Corp. engages in the exploration, development, and production of oil and gas properties. It produces natural gas; light, medium, and heavy oil; and natural gas liquids in the core areas of West Central and Deep Basin. The company was founded in 1997 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$1.37, close to its 52-week low of C$1.11.