Pine Cliff Energy (TSE:PNE) Stock Rating Upgraded by Canaccord Genuity Group

Pine Cliff Energy (TSE:PNE) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$0.90 price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 47.54% from the stock’s previous close.

Separately, Desjardins cut their price target on shares of Pine Cliff Energy from C$1.10 to C$0.95 and set an “outperform” rating for the company in a research report on Wednesday, March 19th.

Pine Cliff Energy Trading Down 9.0 %

PNE stock opened at C$0.61 on Thursday. Pine Cliff Energy has a one year low of C$0.60 and a one year high of C$1.14. The company has a market capitalization of C$220.94 million, a PE ratio of -14.72 and a beta of 0.37. The company’s 50 day moving average price is C$0.80 and its two-hundred day moving average price is C$0.88. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.