The stock of Canacol Energy Ltd (TSE:CNE) hit a new 52-week high and has $7.80 target or 66.00% above today’s $4.70 share price. The 6 months bullish chart indicates low risk for the $834.06M company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $7.80 price target is reached, the company will be worth $550.48 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 75,226 shares traded hands. Canacol Energy Ltd (TSE:CNE) has risen 39.09% since March 10, 2016 and is uptrending. It has outperformed by 33.48% the S&P500.
Canacol Energy Ltd (TSE:CNE) Ratings Coverage
Out of 4 analysts covering Canacol Energy (TSE:CNE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $6.90 is the highest target while $2.10 is the lowest. The $5.58 average target is 18.72% above today’s ($4.7) stock price. Canacol Energy has been the topic of 12 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Wednesday, August 24 with “Outperform”. On Thursday, September 22 the stock rating was maintained by Scotia Capital with “Outperform”. Scotia Capital maintained Canacol Energy Ltd (TSE:CNE) on Tuesday, June 7 with “Outperform” rating.
More notable recent Canacol Energy Ltd (TSE:CNE) news were published by: Marketwired.com which released: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” on August 23, 2016, also Marketwired.com with their article: “Canacol Energy Ltd. Doubles Natural Gas Drilling Activity In Colombia” published on September 21, 2016, Marketwired.com published: “Canacol Energy Ltd. Provides Production and Operations Update: Current …” on February 16, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) were released by: Marketwired.com and their article: “Canacol Energy Ltd. Reports Filing of December 31, 2015 Financial Results and …” published on March 28, 2016 as well as Marketwired.com‘s news article titled: “Canacol Energy Ltd. Announces Strategic Financing With Apollo Investment …” with publication date: October 29, 2014.
Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $834.06 million. The Firm is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It currently has negative earnings. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia , which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.
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