Gran Tierra Energy Inc (GTE) Receives Average Rating of “Buy” from Analysts

Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$5.22.

A number of brokerages recently issued reports on GTE. Scotiabank set a C$5.75 price objective on Gran Tierra Energy and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Eight Capital raised their price objective on Gran Tierra Energy from C$5.50 to C$6.25 in a research report on Tuesday. CIBC raised their price objective on Gran Tierra Energy from C$3.00 to C$3.50 in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research downgraded Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th.

Shares of Gran Tierra Energy (TSE:GTE) opened at C$3.09 on Friday. The stock has a market capitalization of $1,230.00, a PE ratio of -7.73 and a beta of 0.19. Gran Tierra Energy has a 52-week low of C$2.41 and a 52-week high of C$3.75.

In other news, insider Gmt Capital Corp bought 22,300 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of C$2.09 per share, for a total transaction of C$46,607.00. Insiders have purchased a total of 111,900 shares of company stock valued at $248,342 over the last 90 days.

A number of institutional investors have recently made changes to their positions in the stock. GMT Capital Corp boosted its holdings in Gran Tierra Energy by 4.5% during the 3rd quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock valued at $115,482,000 after acquiring an additional 2,195,500 shares during the period. Schroder Investment Management Group boosted its stake in shares of Gran Tierra Energy by 40.6% in the 3rd quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock valued at $20,141,000 after buying an additional 2,146,732 shares during the period. Toronto Dominion Bank boosted its stake in shares of Gran Tierra Energy by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,891,616 shares of the company’s stock valued at $13,084,000 after buying an additional 23,195 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Gran Tierra Energy by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,471,070 shares of the company’s stock valued at $7,695,000 after buying an additional 99,228 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Gran Tierra Energy by 7.5% in the 3rd quarter. Foundry Partners LLC now owns 1,682,906 shares of the company’s stock valued at $3,837,000 after buying an additional 118,019 shares during the period.

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Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.

Analyst Recommendations for Gran Tierra Energy (TSE:GTE)

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