CIBC Lowers Petrus Resources (TSE:PRQ) Price Target to C$0.75

Petrus Resources (TSE:PRQ) had its target price cut by equities research analysts at CIBC from C$0.85 to C$0.75 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price target suggests a potential upside of 158.62% from the company’s previous close.

Several other analysts have also recently weighed in on PRQ. Raymond James reiterated a “hold” rating on shares of PrairieSky Royalty in a research note on Thursday, July 11th. GMP Securities reiterated a “buy” rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. Finally, National Bank Financial dropped their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Petrus Resources currently has an average rating of “Buy” and an average price target of C$1.00.

Shares of Petrus Resources stock opened at C$0.29 on Thursday. Petrus Resources has a twelve month low of C$0.21 and a twelve month high of C$1.28. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 97.57. The business has a 50-day simple moving average of C$0.30. The firm has a market cap of $16.82 million and a PE ratio of -1.38.

Petrus Resources (TSE:PRQ) last issued its quarterly earnings data on Monday, May 6th. The company reported C($0.26) earnings per share for the quarter. The business had revenue of C$20.23 million for the quarter. On average, equities analysts forecast that Petrus Resources will post -0.32 EPS for the current year.

About Petrus Resources

Petrus Resources Ltd., an energy company, engages in the acquisition, exploration, development, and exploitation of oil and gas development assets in western Canada. It primarily explores for natural gas, natural gas liquids, and crude oil. The company holds 55% working interest in Ferrier/Strachan Area, which include 31,767 net acres of undeveloped land and 13,216 net acres of developed land located in west central Alberta near the town of Rocky Mountain House, Alberta.

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