Citigroup Cuts Gran Tierra Energy (TSE:GTE) Price Target to C$3.90

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Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) had its target price reduced by Citigroup from C$5.00 to C$3.90 in a report issued on Monday morning, BayStreet.CA reports.

Several other research analysts also recently commented on the stock. Canaccord Genuity decreased their price target on shares of Gran Tierra Energy from C$6.00 to C$3.50 and set a buy rating on the stock in a research note on Thursday, June 20th. Royal Bank of Canada decreased their price target on shares of Gran Tierra Energy from C$4.20 to C$3.60 in a research note on Tuesday, July 30th. CIBC decreased their price target on shares of Gran Tierra Energy from C$5.00 to C$4.00 in a research note on Thursday, July 18th. Eight Capital decreased their target price on shares of Gran Tierra Energy from C$6.00 to C$5.50 in a research note on Thursday, July 11th. Finally, GMP Securities decreased their target price on shares of Gran Tierra Energy from C$3.50 to C$2.75 in a research note on Thursday, June 20th.

GTE stock opened at C$1.78 on Monday. The company has a market capitalization of $716.23 million and a PE ratio of 6.82. Gran Tierra Energy has a one year low of C$1.77 and a one year high of C$5.09. The company’s 50 day moving average price is C$2.03 and its two-hundred day moving average price is C$2.72. The company has a debt-to-equity ratio of 66.36, a quick ratio of 1.73 and a current ratio of 1.80.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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