Storm Resources (TSE:SRX) Shares Up 4.3%

Storm Resources Ltd (TSE:SRX) shot up 4.3% on Wednesday . The stock traded as high as C$1.45 and last traded at C$1.45, 39,840 shares traded hands during trading. A decline of 67% from the average session volume of 122,288 shares. The stock had previously closed at C$1.39.

Several research firms recently weighed in on SRX. CIBC lowered their price target on Storm Resources from C$2.50 to C$2.00 in a research report on Tuesday, October 15th. National Bank Financial dropped their price objective on shares of Storm Resources from C$2.25 to C$2.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Finally, Raymond James set a C$2.00 price objective on shares of Storm Resources and gave the company a “market perform” rating in a research report on Wednesday, November 13th.

The company has a debt-to-equity ratio of 26.38, a quick ratio of 0.47 and a current ratio of 0.54. The company has a market capitalization of $173.83 million and a P/E ratio of 5.14. The firm’s fifty day moving average is C$1.34 and its 200 day moving average is C$1.53.

About Storm Resources (TSE:SRX)

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.

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