National Bank Financial lowered shares of Storm Resources (TSE:SRX) from an outperform rating to a sector perform rating in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have C$2.25 price target on the stock, down from their previous price target of C$2.75.
A number of other equities research analysts also recently commented on SRX. Raymond James reduced their target price on Storm Resources from C$5.00 to C$4.75 and set a strong-buy rating on the stock in a research report on Wednesday, May 15th. GMP Securities reduced their target price on Storm Resources from C$4.00 to C$3.75 in a research report on Friday, June 28th. CIBC cut their price objective on Storm Resources from C$3.25 to C$2.50 in a report on Thursday, July 18th. Finally, Royal Bank of Canada cut their price objective on Storm Resources from C$3.00 to C$2.50 in a report on Thursday, July 18th.
TSE:SRX traded down C$0.04 on Wednesday, reaching C$1.41. The company’s stock had a trading volume of 800 shares, compared to its average volume of 92,085. Storm Resources has a 12-month low of C$1.29 and a 12-month high of C$3.16. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 22.64. The firm has a market capitalization of $176.26 million and a price-to-earnings ratio of 5.40. The company has a 50 day moving average of C$1.68.
Storm Resources Ltd. operates as a crude oil and natural gas exploration and development company in Canada. The company primarily owns interest in lands covering an area of 121,000 net acres in 172 net sections located in Umbach, Nig, and Fireweed areas of Northeast British Columbia. As of December 31, 2018, it had 182,370 thousand barrels of oil equivalent of total proved plus probable reserves.
Further Reading: Certificate of Deposit (CD)
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