What Next for Mitra Energy Inc Stock After Today’s Huge Increase?

 What Next for Mitra Energy Inc Stock After Today's Huge Increase?

The stock of Mitra Energy Inc (CVE:MTE) is a huge mover today! About 82,800 shares traded hands or 10.47% up from the average. Mitra Energy Inc (CVE:MTE) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
The move comes after 9 months positive chart setup for the $44.93 million company. It was reported on Nov, 4 by Barchart.com. We have $0.87 PT which if reached, will make CVE:MTE worth $33.25M more.

More notable recent Mitra Energy Inc (CVE:MTE) news were published by: Marketwired.com which released: “Mitra Energy Inc. Closes RTO Transaction” on April 22, 2015, also Stockhouse.com with their article: “IIROC Trade Resumption – Mitra Energy Inc.” published on November 02, 2016, Reuters.com published: “Mitra Energy to raise $80 million to fund acquisitions: source” on October 28, 2016. More interesting news about Mitra Energy Inc (CVE:MTE) were released by: Marketwired.com and their article: “Mitra Energy Closes Private Placement” published on July 05, 2016 as well as Marketwired.com‘s news article titled: “Livermore Partners LLC and Its Affiliate Acquire Common Shares of Mitra Energy …” with publication date: May 02, 2016.

Mitra Energy Inc., formerly Petra Petroleum Inc., is an gas and oil company. The company has a market cap of $44.93 million. It is engaged in exploration, appraisal and pre-development activities in South East Asia , with over 10 exploration and pre-development assets. It currently has negative earnings. The Company’s portfolio comprises approximately 12.8 million acres of acreage and consists of over two service contracts (SCs) in the Philippines (SC-56 and SC-57), approximately five production sharing contracts (PSCs) in Vietnam (Block 51, Block 46-07 and Block 45, Block 127 and Block MVHN/12KS) and over three PSCs in Indonesia (Bone, Sibaru and Titan blocks).

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