CIBC Trims Raging River Exploration (RRX) Target Price to C$7.50

Raging River Exploration (TSE:RRX) had its target price lowered by CIBC from C$8.00 to C$7.50 in a report issued on Tuesday, March 20th.

Several other analysts have also recently commented on RRX. Eight Capital raised their target price on shares of Raging River Exploration from C$10.50 to C$13.15 and gave the stock a buy rating in a research note on Monday, January 15th. National Bank Financial raised their target price on shares of Raging River Exploration from C$10.00 to C$11.00 and gave the stock an outperform rating in a research note on Tuesday, January 9th. BMO Capital Markets cut shares of Raging River Exploration from an outperform rating to a market perform rating and reduced their target price for the stock from C$10.00 to C$7.00 in a research note on Tuesday, March 6th. Scotiabank reduced their target price on shares of Raging River Exploration from C$11.50 to C$10.50 and set an outperform rating for the company in a research note on Tuesday, March 6th. Finally, Canaccord Genuity reduced their price objective on shares of Raging River Exploration from C$9.00 to C$8.00 in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of C$9.87.

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TSE:RRX traded down C$0.02 during trading hours on Tuesday, reaching C$6.73. 1,371,828 shares of the company’s stock were exchanged, compared to its average volume of 1,313,923. Raging River Exploration has a 1-year low of C$5.52 and a 1-year high of C$8.99.

Raging River Exploration (TSE:RRX) last issued its quarterly earnings results on Monday, March 5th. The company reported C$0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of C$0.09. The business had revenue of C$130.17 million for the quarter, compared to analyst estimates of C$120.20 million.

In other news, insider Bruce Michael Beynon sold 12,000 shares of Raging River Exploration stock in a transaction dated Friday, January 19th. The shares were sold at an average price of C$8.22, for a total transaction of C$98,640.00.

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Raging River Exploration Company Profile

Raging River Exploration Inc, a junior oil and gas production company, engages in the exploration, development, and production of crude oil and natural gas properties in Western Canada. It primarily holds interests in the Viking oil resource play located in the Dodsland area in Southwestern Saskatchewan and southeast Alberta.

Analyst Recommendations for Raging River Exploration (TSE:RRX)

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