Lycos Energy (CVE:LCX) Stock Price Up 4.6% Following Analyst Upgrade

Lycos Energy Inc. (CVE:LCX)’s stock price traded up 4.6% during trading on Thursday after National Bank Financial raised their price target on the stock from C$0.70 to C$2.50. National Bank Financial currently has a sector perform rating on the stock. Lycos Energy traded as high as C$2.04 and last traded at C$2.03. 224,749 shares were traded during mid-day trading, a decline of 48% from the average session volume of 432,513 shares. The stock had previously closed at C$1.94.

Separately, Haywood Securities upgraded shares of Lycos Energy from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$1.50 to C$0.65 in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Lycos Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$1.73.

Lycos Energy Stock Up 8.0%

The stock has a market cap of C$108.07 million, a price-to-earnings ratio of -1.71 and a beta of 0.68. The company has a 50 day simple moving average of C$1.39 and a 200 day simple moving average of C$1.17.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.