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

Pine Cliff Energy (TSE:PNE) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a C$0.90 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 32.35% from the company’s previous close.

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

Pine Cliff Energy Stock Performance

PNE stock traded down C$0.04 during midday trading on Thursday, reaching C$0.68. The stock had a trading volume of 534,384 shares, compared to its average volume of 175,450. The firm has a fifty day simple moving average of C$0.81 and a two-hundred day simple moving average of C$0.88. The stock has a market cap of C$246.29 million, a PE ratio of -16.41 and a beta of 0.37. Pine Cliff Energy has a 52-week low of C$0.66 and a 52-week high of C$1.14. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47.

About Pine Cliff Energy

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.