CIBC Cuts Pine Cliff Energy (TSE:PNE) Price Target to C$0.25
Pine Cliff Energy (TSE:PNE) had its price objective cut by CIBC from C$0.50 to C$0.25 in a research report report published on Thursday, BayStreet.CA reports.
Several other research firms also recently issued reports on PNE. Canaccord Genuity restated a buy rating and issued a $7.50 price target on shares of in a research note on Tuesday, July 9th. TD Securities reduced their price target on Total Energy Services from C$11.50 to C$10.00 and set a hold rating for the company in a research note on Friday, May 10th. GMP Securities restated a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Finally, National Bank Financial boosted their price target on Yamana Gold from C$3.75 to C$4.00 and gave the company a sector perform rating in a research note on Friday, May 10th.
PNE stock opened at C$0.17 on Thursday. The company has a debt-to-equity ratio of 116.57, a current ratio of 1.29 and a quick ratio of 1.07. The firm has a market cap of $52.20 million and a price-to-earnings ratio of -0.81. Pine Cliff Energy has a 1-year low of C$0.16 and a 1-year high of C$0.44. The business’s 50 day simple moving average is C$0.18.
In other news, insider Robert Disbrow purchased 450,000 shares of Pine Cliff Energy stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of C$0.18 per share, for a total transaction of C$81,000.00. Following the purchase, the insider now directly owns 19,162,083 shares of the company’s stock, valued at approximately C$3,449,174.94. Insiders purchased a total of 521,000 shares of company stock valued at $93,830 over the last 90 days.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern and Edson areas; and oil and natural gas assets in the Viking Kinsella and Ghost Pine area of Central Alberta.
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