Painted Pony Energy (TSE:PONY) PT Lowered to C$1.75

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Painted Pony Energy (TSE:PONY) had its price objective dropped by investment analysts at Canaccord Genuity from C$2.50 to C$1.75 in a research report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity’s price objective would suggest a potential upside of 98.86% from the company’s previous close.

Several other research analysts have also commented on the company. GMP Securities reaffirmed a “buy” rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Raymond James reaffirmed a “buy” rating and set a $21.00 price target on shares of Colfax in a research report on Thursday, May 2nd. Eight Capital lifted their price target on Painted Pony Energy from C$1.85 to C$1.90 in a research report on Thursday, May 2nd. Finally, National Bank Financial cut their price target on Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of C$2.17.

PONY traded up C$0.01 during trading on Tuesday, hitting C$0.88. 228,400 shares of the stock were exchanged, compared to its average volume of 486,938. The company has a market cap of $140.07 million and a price-to-earnings ratio of 12.57. Painted Pony Energy has a 1-year low of C$0.86 and a 1-year high of C$3.54. The company’s fifty day simple moving average is C$1.04. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 75.09.

Painted Pony Energy Company Profile

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in Western Canada. It focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. The company was formerly known as Painted Pony Petroleum Ltd.

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Analyst Recommendations for Painted Pony Energy (TSE:PONY)

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