Delphi Energy Receives a Hold from GMP FirstEnergy

By Ryan Adsit

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Analyst Cody Kwong from GMP FirstEnergy remains neutral on Delphi Energy (TSX: DEE) and has a C$1.20 price target.

According to TipRanks.com, Kwong is ranked #2080 out of 4840 analysts.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Delphi Energy with a C$1.48 average price target.

Based on Delphi Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$4.47 million. In comparison, last year the company had a net profit of C$4.58 million.

Delphi Energy Corp. is an exploration company. The firm engages in the exploration, development and production of crude oil, natural gas. Its projects include Montney and cretaceous, which are located in Bigstone. The company was founded on June 19, 2003 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$0.88, close to its 52-week low of C$0.80.