Yangarra Resources (TSE:YGR) Price Target Cut to C$3.00

Yangarra Resources (TSE:YGR) had its price objective cut by CIBC from C$4.25 to C$3.00 in a research note issued on Thursday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 74.42% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. National Bank Financial reduced 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 report on Tuesday, June 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $7.50 price objective on shares of in a research report on Tuesday, July 9th. Finally, Raymond James reaffirmed a “hold” rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th.

TSE YGR opened at C$1.72 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 65.52. Yangarra Resources has a 12-month low of C$1.67 and a 12-month high of C$5.44. The firm has a market capitalization of $154.51 million and a P/E ratio of 3.82. The firm has a 50 day simple moving average of C$2.17.

Yangarra Resources (TSE:YGR) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported C$0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.16 by C($0.03). The firm had revenue of C$39.91 million for the quarter, compared to the consensus estimate of C$44.10 million. On average, sell-side analysts predict that Yangarra Resources will post 0.6700001 earnings per share for the current fiscal year.

About Yangarra Resources

Yangarra Resources Ltd., a junior oil and gas company, explores for, develops, and produces resource properties in Western Canada. The company holds oil and gas interests in various sections, primarily focusing on Cardium in Central Alberta. Yangarra Resources Ltd. is headquartered in Calgary, Canada.

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