Raymond James Thinks Yangarra Resources’ Stock is Going to Recover

By Ryan Adsit

Today, an analyst has provided a rating update for Yangarra Resources (YGRResearch Report). Analyst Jeremy Mccrea from Raymond James rated Yangarra Resources (YGRResearch Report) a Buy, setting a C$4 price target.

According to TipRanks.com, Mccrea has 0 stars on 0-5 star ranking scale with an average return of -9.7% and a 24.4% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Tamarack Valley Energy Ltd, and Freehold Royalties Ltd.

Currently, the analyst consensus on Yangarra Resources is a Moderate Buy with an average price target of C$4, representing a 105.1% upside. In a report issued on July 9, Canaccord Genuity also maintained a Buy rating on the stock with a C$4 price target.

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Yangarra Resources’ market cap is currently C$168.2M and has a P/E ratio of 4.7. The company has a Price to Book ratio of 0.63.

Yangarra Resources Ltd. is a junior oil and gas company. It engages in the exploration, development, and production of oil and natural gas. The company was founded in 1985 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$1.95, close to its 52-week low of C$1.80.