Can Mitra Energy Inc’s Tomorrow be Different? The Stock Declines Again

 Can Mitra Energy Inc's Tomorrow be Different? The Stock Declines Again

The stock of Mitra Energy Inc (CVE:MTE) is a huge mover today! About 71,300 shares traded hands or 70.65% up from the average. Mitra Energy Inc (CVE:MTE) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
The move comes after 8 months negative chart setup for the $112.86 million company. It was reported on Nov, 25 by Barchart.com. We have $0.46 PT which if reached, will make CVE:MTE worth $9.03M less.

More important 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 Marketwired.com published article titled: “Mitra Energy Inc. Provides Update on Contingent and Prospective Resources”, Marketwired.com published: “Mitra Energy Closes Private Placement” on July 05, 2016. More interesting news about Mitra Energy Inc (CVE:MTE) was released by: Reuters.com and their article: “Mitra Energy to raise $80 million to fund acquisitions: source” with publication date: October 28, 2016.

Mitra Energy Inc., formerly Petra Petroleum Inc., is an gas and oil company. The company has a market cap of $112.86 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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