The stock of Petrus Resources Ltd (TSE:PRQ) gapped up by $0.01 today and has $2.71 target or 8.00% above today’s $2.51 share price. The 6 months technical chart setup indicates low risk for the $120.61M company. The gap was reported on Dec, 1 by Barchart.com. If the $2.71 price target is reached, the company will be worth $9.65M 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 41,793 shares traded hands. Petrus Resources Ltd (TSE:PRQ) has risen 3.75% since April 26, 2016 and is uptrending. It has underperformed by 2.18% the S&P500.
Petrus Resources Ltd (TSE:PRQ) Ratings Coverage
Out of 2 analysts covering Progress Energy Resources Corp. (TSE:PRQ), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Progress Energy Resources Corp. has been the topic of 3 analyst reports since February 18, 2016 according to StockzIntelligence Inc. The stock of Petrus Resources Ltd (TSE:PRQ) has “Sector Perform” rating given on Friday, July 8 by RBC Capital Markets. The firm earned “Buy” rating on Thursday, February 18 by Cormark Securities. FirstEnergy Capital initiated Petrus Resources Ltd (TSE:PRQ) on Wednesday, February 24 with “An Outperform” rating.
More recent Petrus Resources Ltd (TSE:PRQ) news were published by: Marketwired.com which released: “Petrus Resources Announces Third Quarter 2016 Financial & Operating Results” on November 09, 2016. Also Marketwired.com published the news titled: “Petrus Resources Ltd. Announces Major Acquisition and Financing and Provides …” on September 03, 2014. Marketwired.com‘s news article titled: “Petrus Resources Ltd. Announces Closing of Acquisition and Debt Financing and …” with publication date: October 08, 2014 was also an interesting one.
Petrus Resources Ltd. is an oil and gas company. The company has a market cap of $120.61 million. The Firm focuses on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. It has a 1.53 P/E ratio. The Firm has production and growth opportunities in approximately three areas within the province of Alberta, including Ferrier, Central Alberta and the central Rocky Mountain foothills region.
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