BMO Capital Sticks to Their Hold Rating for Bonavista Energy

By Jason Carr

The Materials sector company, Bonavista Energy (TSX: BNP), has received a rating update from a Wall Street analyst yesterday. Analyst Randy Ollenberger from BMO Capital reiterated a Hold rating, with a C$2.50 price target.

According to, Ollenberger is a 2-star analyst with an average return of 0.8% and a 55.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Spectra Energy Partners.

Bonavista Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.12.

Based on Bonavista Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$112 million and GAAP net loss of C$1.7 million. In comparison, last year the company earned revenue of C$129 million and had a GAAP net loss of C$12.02 million.

Bonavista Energy Corp. explores, develops and produces oil and natural gas in Canada. Its major properties are concentrated within three core regions in western Canada. The company’s Western core region operations offer multi-zone oil and liquids rich natural gas resources in close proximity to infrastructure and services, with year round access.

The company’s shares closed on Thursday at C$1.95, close to its 52-week low of C$1.77.