The stock of Bonterra Energy Corp (TSE:BNE) gapped up by $0.05 today and has $42.16 target or 65.00% above today’s $25.55 share price. The 9 months technical chart setup indicates low risk for the $840.66 million company. The gap was reported on Nov, 21 by Barchart.com. If the $42.16 price target is reached, the company will be worth $546.43M 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 62,384 shares traded hands. Bonterra Energy Corp (TSE:BNE) has risen 12.50% since April 15, 2016 and is uptrending. It has outperformed by 8.64% 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 13.58% above today’s ($25.55) stock price. Bonterra Energy Corp has been the topic of 26 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Bonterra Energy Corp (TSE:BNE) has “Buy” rating given on Friday, August 12 by TD Securities. Scotia Capital maintained it with “Sector Perform” rating and $28.50 target price in Friday, August 12 report. The company was maintained on Tuesday, June 28 by Desjardins Securities. The rating was initiated by IBC with “Underperform” on Wednesday, June 15. The company was maintained on Monday, June 6 by Raymond James. The stock of Bonterra Energy Corp (TSE:BNE) earned “Sector Perform” rating by Scotia Capital on Friday, November 11.
Another recent and important Bonterra Energy Corp (TSE:BNE) news was published by Marketwired.com which published an article titled: “Bonterra Energy Corp. Announces Year End 2015 Results” on March 17, 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 $840.66 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.
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