Royal Bank of Canada Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its price objective increased by research analysts at Royal Bank of Canada from C$30.00 to C$32.00 in a report issued on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 14.12% from the company’s previous close.

TPZ has been the topic of several other research reports. Desjardins boosted their target price on shares of Topaz Energy from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their target price on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their target price on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Scotiabank increased their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, TD Securities increased their price objective on shares of Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$31.13.

Topaz Energy Stock Up 1.4 %

Shares of TSE TPZ traded up C$0.39 during midday trading on Wednesday, reaching C$28.04. 369,054 shares of the company’s stock traded hands, compared to its average volume of 268,250. The stock’s 50 day simple moving average is C$26.32 and its 200-day simple moving average is C$24.73. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The company has a market cap of C$4.06 billion, a price-to-earnings ratio of 75.32 and a beta of 0.50. Topaz Energy has a one year low of C$18.03 and a one year high of C$28.13.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.