Pine Cliff Energy (PNE) Sets New 1-Year Low at $0.27

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Pine Cliff Energy Ltd (TSE:PNE)’s share price hit a new 52-week low on Monday . The stock traded as low as C$0.27 and last traded at C$0.29, with a volume of 253500 shares changing hands. The stock had previously closed at C$0.27.

Separately, CIBC raised Pine Cliff Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from C$0.35 to C$0.50 in a report on Friday, July 20th.

Pine Cliff Energy (TSE:PNE) last announced its quarterly earnings data on Wednesday, August 8th. The company reported C($0.06) earnings per share for the quarter, missing the consensus estimate of C($0.03) by C($0.03). The business had revenue of C$20.42 million during the quarter, compared to analyst estimates of C$23.30 million.

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Pine Cliff Energy Company Profile (TSE:PNE)

Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.

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