The stock of Gran Tierra Energy Inc. (TSE:GTE) gapped up by $0.03 today and has $7.03 target or 65.00% above today’s $4.26 share price. The 7 months technical chart setup indicates low risk for the $1.45 billion company. The gap was reported on Nov, 15 by Barchart.com. If the $7.03 price target is reached, the company will be worth $942.50M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 755,951 shares traded hands or 24.17% up from the average. Gran Tierra Energy Inc. (TSE:GTE) has risen 20.25% since April 11, 2016 and is uptrending. It has outperformed by 16.32% the S&P500.
Gran Tierra Energy Inc. (TSE:GTE) Ratings Coverage
Out of 7 analysts covering Gran Tierra Energy (TSE:GTE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2.10 is the lowest. The $4.30 average target is 0.94% above today’s ($4.26) stock price. Gran Tierra Energy has been the topic of 13 analyst reports since September 2, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, August 24 report. The firm has “Action List Buy” rating given on Tuesday, November 8 by TD Securities. The rating was upgraded by Scotia Capital on Friday, December 18 to “Outperform”.
More notable recent Gran Tierra Energy Inc. (TSE:GTE) news were published by: Marketwatch.com which released: “Gran Tierra Energy Inc. Announces Colombian Peso Hedging Program” on June 08, 2016, also Marketwatch.com with their article: “Gran Tierra Energy Inc. and Petroamerica Oil Corp. Announce Closing of …” published on January 13, 2016, Marketwired.com published: “Gran Tierra Energy Inc. Announces Closing of PetroLatina Energy Ltd. Acquisition” on August 23, 2016. More interesting news about Gran Tierra Energy Inc. (TSE:GTE) were released by: Marketwatch.com and their article: “Gran Tierra Energy Inc. Announces Second Quarter 2016 Results Highlighted by …” published on August 08, 2016 as well as Marketwatch.com‘s news article titled: “Gran Tierra Energy Inc. Announces Increase in 2016 Exploration Capital Budget …” with publication date: June 01, 2016.
Gran Tierra Energy Inc. is an energy firm engaged in gas and oil acquisition, exploration, development and production. The company has a market cap of $1.45 billion. The Firm focuses on onshore gas and oil properties in Colombia, and also own rights to gas and oil properties in Brazil and Peru. It currently has negative earnings. The Company’s divisions are Colombia, Peru and Brazil based on geographic organization.
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