Pine Cliff Energy (PNE) Hits New 12-Month Low After Analyst Downgrade
Pine Cliff Energy Ltd (TSE:PNE) shares hit a new 52-week low during mid-day trading on Tuesday after National Bank Financial lowered their price target on the stock from C$0.65 to C$0.50. National Bank Financial currently has a sector perform rating on the stock. Pine Cliff Energy traded as low as C$0.37 and last traded at C$0.41, with a volume of 855980 shares changing hands. The stock had previously closed at C$0.44.
Other research analysts have also recently issued research reports about the company. Industrial Alliance Securities cut Pine Cliff Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Clarus Securities reaffirmed a “buy” rating on shares of Pine Cliff Energy in a research report on Tuesday, October 24th.
In other Pine Cliff Energy news, insider Robert Disbrow sold 1,008,818 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of C$0.47, for a total value of C$474,144.46.
The stock has a market capitalization of $113.62, a PE ratio of -3.70 and a beta of 0.51.
Pine Cliff Energy Company Profile
Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.
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