Canaccord Genuity reaffirmed their buy rating on shares of Gran Tierra Energy Inc. (TSE:GTE) in a research report released on Wednesday morning.

A number of other analysts also recently issued reports on GTE. Zacks Investment Research raised Gran Tierra Energy from a sell rating to a hold rating in a research report on Tuesday, May 31st. Paradigm Capital reaffirmed a buy rating and issued a C$4.15 target price on shares of Gran Tierra Energy in a research report on Thursday, June 2nd. Scotiabank reaffirmed an outperform rating and issued a C$4.50 target price on shares of Gran Tierra Energy in a research report on Thursday, June 2nd. Dundee Securities lifted their target price on Gran Tierra Energy from C$4.80 to C$6.00 and gave the company a buy rating in a research report on Monday, June 13th. Finally, TD Securities reaffirmed a buy rating and issued a C$5.00 target price on shares of Gran Tierra Energy in a research report on Tuesday, June 14th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of C$6.57.

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

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

Several large investors have recently modified their holdings of GTE. Foundry Partners LLC bought a new stake in shares of Gran Tierra Energy during the second quarter valued at about $4,060,000. Royal Bank of Canada boosted its stake in shares of Gran Tierra Energy by 21.5% in the first quarter. Royal Bank of Canada now owns 718,840 shares of the company’s stock valued at $1,776,000 after buying an additional 127,204 shares during the period. Renaissance Technologies LLC boosted 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 valued at $17,798,000 after buying an additional 1,333,000 shares during the period. HBK Investments L P boosted its stake in shares of Gran Tierra Energy by 52.5% in the first quarter. HBK Investments L P now owns 1,074,100 shares of the company’s stock valued at $2,653,000 after buying an additional 370,000 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Gran Tierra Energy by 46.3% in the first quarter. Goldman Sachs Group Inc. now owns 104,206 shares of the company’s stock valued at $257,000 after buying an additional 32,977 shares during the period.

Gran Tierra Energy Company Profile

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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