Canaccord Genuity restated their buy rating on shares of Gran Tierra Energy Inc. (TSE:GTE) in a research note published on Wednesday.

Several other brokerages have also weighed in on GTE. Scotiabank reaffirmed an outperform rating and issued a C$5.25 target price on shares of Gran Tierra Energy in a research report on Thursday. TD Securities reaffirmed a buy rating and issued a C$5.50 target price on shares of Gran Tierra Energy in a research report on Thursday. FirstEnergy Capital reaffirmed an outperform rating on shares of Gran Tierra Energy in a research report on Friday, August 12th. Paradigm Capital upped their target price on Gran Tierra Energy from C$4.75 to C$5.00 and gave the stock a buy rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada upped their target price on Gran Tierra Energy from C$6.00 to C$6.50 and gave the stock a top pick rating in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of C$6.57.

Shares of Gran Tierra Energy (TSE:GTE) opened at 3.56 on Wednesday. The firm’s 50-day moving average price is $3.73 and its 200 day moving average price is $3.71. The stock’s market capitalization is $1.06 billion. Gran Tierra Energy has a 12-month low of $2.56 and a 12-month high of $4.44.

Gran Tierra Energy (TSE:GTE) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.17. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Analysts predict that Gran Tierra Energy will post ($0.40) EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Gran Tierra Energy by 22.7% in the first quarter. Renaissance Technologies LLC now owns 7,204,500 shares of the company’s stock worth $17,798,000 after buying an additional 1,333,000 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Gran Tierra Energy during the second quarter worth approximately $4,060,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Gran Tierra Energy during the second quarter worth approximately $2,321,000. TD Asset Management Inc. increased its stake in shares of Gran Tierra Energy by 75.2% in the second quarter. TD Asset Management Inc. now owns 2,532,520 shares of the company’s stock worth $8,443,000 after buying an additional 1,087,300 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Gran Tierra Energy by 232.7% in the first quarter. BlackRock Group LTD now owns 116,216 shares of the company’s stock worth $287,000 after buying an additional 81,289 shares in the last quarter.

About Gran Tierra Energy

Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.

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