Is Buying 52-Week Stock Like Bonavista Energy Corp a Winning Strategy?

 Is Buying 52 Week Stock Like Bonavista Energy Corp a Winning Strategy?

The stock of Bonavista Energy Corp (TSE:BNP) hit a new 52-week high and has $5.06 target or 3.00% above today’s $4.91 share price. The 5 months bullish chart indicates low risk for the $1.22 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $5.06 price target is reached, the company will be worth $36.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.08 million shares traded hands or 34.70% up from the average. Bonavista Energy Corp (TSE:BNP) has risen 49.17% since April 27, 2016 and is uptrending. It has outperformed by 43.24% the S&P500.

Bonavista Energy Corp (TSE:BNP) Ratings Coverage

Out of 4 analysts covering Bonavista Energy (TSE:BNP), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $9.25 is the highest target while $2.25 is the lowest. The $4.90 average target is -0.20% below today’s ($4.91) stock price. Bonavista Energy has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, June 17 report. TD Securities maintained the shares of BNP in a report on Friday, November 4 with “Buy” rating. The rating was maintained by RBC Capital Markets on Friday, October 28 with “Sector Perform”. The company was maintained on Friday, November 4 by National Bank Canada. Scotia Capital maintained Bonavista Energy Corp (TSE:BNP) rating on Friday, November 4. Scotia Capital has “Sector Perform” rating and $4.75 price target. The company was downgraded on Tuesday, January 12 by Raymond James. Desjardins Securities maintained the shares of BNP in a report on Tuesday, June 28 with “” rating. The stock of Bonavista Energy Corp (TSE:BNP) has “Sector Perform” rating given on Friday, January 29 by RBC Capital Markets.

More news for Bonavista Energy Corp (TSE:BNP) were recently published by: Business.Financialpost.com, which released: “Bonavista Energy Corp upgraded as new assets ‘fit like a glove'” on September 07, 2016. Reuters.com‘s article titled: “BRIEF-Bonavista Energy Corp announces 2016 third quarter results” and published on November 03, 2016 is yet another important article.

Bonavista Energy Corporation is a resource firm engaged in the acquisition, exploration, development and production of oil and natural gas assets. The company has a market cap of $1.22 billion. The Company’s West Central Core Area is characterized by natural gas and light oil resources. It currently has negative earnings. West Central Core Area is located within the Western Canadian Sedimentary Basin between Calgary and Drayton Valley, Alberta.

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