The stock of Painted Pony Petroleum Ltd (TSE:PPY) hit a new 52-week high and has $13.20 target or 41.00% above today’s $9.36 share price. The 5 months bullish chart indicates low risk for the $945.94 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $13.20 price target is reached, the company will be worth $387.84 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 142,300 shares traded hands. Painted Pony Petroleum Ltd (TSE:PPY) has risen 100.43% since March 14, 2016 and is uptrending. It has outperformed by 94.89% the S&P500.
Painted Pony Petroleum Ltd (TSE:PPY) Ratings Coverage
Out of 5 analysts covering Painted Pony Petroleum (TSE:PPY), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $13 is the highest target while $4.75 is the lowest. The $9.06 average target is -3.21% below today’s ($9.36) stock price. Painted Pony Petroleum has been the topic of 15 analyst reports since October 28, 2015 according to StockzIntelligence Inc. The stock of Painted Pony Petroleum Ltd (TSE:PPY) has “” rating given on Monday, June 6 by Raymond James. The firm earned “Action List Buy” rating on Friday, August 12 by TD Securities. The firm has “Outperform” rating given on Friday, August 12 by Scotia Capital. The firm has “Outperform” rating given on Tuesday, January 12 by Raymond James. The firm earned “Market Perform” rating on Friday, February 12 by BMO Capital Markets.
Painted Pony Petroleum Ltd. is a natural gas firm in Western Canada. The company has a market cap of $945.94 million. The Company’s principal business activity is the exploration, development and production of petroleum and natural gas resources in western Canada. It currently has negative earnings. It is focused on the development of natural gas and natural gas liquids from the Montney formation in Northeast British Columbia.
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