Research analysts at TD Securities cut their target price on shares of Canacol Energy (TSE: CNE) from $0.95 to $0.85 in a report released on Thursday. The firm currently has a “buy” rating on the stock.
Shares of Canacol Energy traded down 6.90% during mid-day trading on Thursday, hitting $0.27. Canacol Energy has a 52 week low of $0.29 and a 52 week high of $1.07. The company has a P/E ratio of 9.67.
Several other analysts have also recently commented on the stock. Analysts at Scotia Capital cut their price target on shares of Canacol Energy from $0.75 to $0.50 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Separately, analysts at CIBC downgraded shares of Canacol Energy from a “sector perform” rating to an “underperform” rating in a research note to investors on Friday, October 12th.
Canacol Energy Ltd. (Canacol) is a resource company engaged in the acquisition, exploration and development of oil and natural gas in Colombia, Brazil and Guyana.
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