Touchstone Exploration (LON:TXP) Stock Price Up 10.9% – Time to Buy?

Touchstone Exploration Inc. (LON:TXP) traded up 10.9% during trading on Friday . The stock traded as high as GBX 25 ($0.32) and last traded at GBX 24.18 ($0.31). 2,622,209 shares were traded during mid-day trading, an increase of 403% from the average session volume of 520,923 shares. The stock had previously closed at GBX 21.80 ($0.28).

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 60 ($0.76) price target on shares of Touchstone Exploration in a report on Friday. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a research note on Friday.

Touchstone Exploration Price Performance

The firm has a market capitalization of £58.52 million, a P/E ratio of -618.75 and a beta of 0.70. The firm’s fifty day moving average price is GBX 30.70 and its 200-day moving average price is GBX 31.63.

About Touchstone Exploration

Touchstone Exploration Inc engages in the exploration, development, acquisition, production, and sale of petroleum and natural gas properties in the Republic of Trinidad and Tobago. Its primary exploration focus is the Ortoire exploration block. The company was formerly known as Petrobank Energy and Resources Ltd.