The stock of Bonterra Energy Corp (TSE:BNE) gapped up by $0.2 today and has $31.75 target or 27.00% above today’s $25.00 share price. The 7 months technical chart setup indicates low risk for the $869.64M company. The gap was reported on Nov, 17 by Barchart.com. If the $31.75 price target is reached, the company will be worth $234.80 million 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 41,049 shares traded hands. Bonterra Energy Corp (TSE:BNE) has risen 6.83% since April 13, 2016 and is uptrending. It has outperformed by 2.20% the S&P500.
Bonterra Energy Corp (TSE:BNE) Ratings Coverage
Out of 6 analysts covering Bonterra Energy Corp (TSE:BNE), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. $40 is the highest target while $17.50 is the lowest. The $29.02 average target is 16.08% above today’s ($25) stock price. Bonterra Energy Corp has been the topic of 26 analyst reports since July 21, 2015 according to StockzIntelligence Inc. IBC initiated it with “Underperform” rating and $25 target price in Wednesday, June 15 report. Scotia Capital maintained the shares of BNE in a report on Friday, August 12 with “Sector Perform” rating. The rating was maintained by Raymond James on Monday, June 6 with “”. As per Tuesday, June 28, the company rating was maintained by Desjardins Securities. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, November 11. The firm earned “Buy” rating on Friday, August 12 by TD Securities.
Another recent and important Bonterra Energy Corp (TSE:BNE) news was published by Marketwired.com which published an article titled: “Bonterra Energy Corp. Announces Second Quarter 2016 Results” on August 10, 2016.
Bonterra Energy Corp. is an gas and oil firm that is primarily focused on the development of its Cardium land within the Pembina and Willesden Green areas located in central Alberta. The company has a market cap of $869.64 million. The Firm operates in the development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. It currently has negative earnings. The Company’s assets consist of natural gas and crude oil assets.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.