CIBC Keeps a Sell Rating on Bonavista Energy (BNP)

By Ryan Adsit

A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Bonavista Energy (BNPResearch Report) received a Sell rating from CIBC’s analyst Jamie Kubik, with a C$0.40 price target.

According to TipRanks.com, Kubik is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -19.4% and a 21.8% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Bonavista Energy with a C$14.58 average price target, a 3251.7% upside from current levels. In a report issued on July 11, Raymond James also maintained a Sell rating on the stock with a C$0.60 price target.

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Based on Bonavista Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$40.14 million. In comparison, last year the company had a GAAP net loss of C$49.56 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$0.44, close to its 52-week low of C$0.41.