Bonterra Energy (BNE) Price Target Cut to C$12.50

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Bonterra Energy (TSE:BNE) had its target price lowered by analysts at Cormark from C$19.00 to C$12.50 in a research report issued to clients and investors on Friday. Cormark’s price objective would indicate a potential upside of 87.69% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. National Bank Financial cut shares of Bonterra Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$21.00 to C$10.25 in a research note on Tuesday, December 11th. Raymond James lowered shares of Bonterra Energy from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from C$22.50 to C$22.00 in a report on Wednesday. AltaCorp Capital lowered shares of Bonterra Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 8th. GMP Securities lowered their target price on shares of Bonterra Energy from C$9.50 to C$9.00 in a report on Thursday, December 13th. Finally, BMO Capital Markets lowered their target price on shares of Bonterra Energy from C$13.50 to C$10.00 in a report on Friday, November 30th.

TSE BNE traded down C$0.08 during trading hours on Friday, hitting C$6.66. 207,735 shares of the stock were exchanged, compared to its average volume of 287,603. Bonterra Energy has a 12-month low of C$5.31 and a 12-month high of C$20.29. The company has a debt-to-equity ratio of 62.98, a current ratio of 0.44 and a quick ratio of 0.36.

Bonterra Energy (TSE:BNE) last posted its quarterly earnings results on Wednesday, November 7th. The company reported C$0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.33 by C($0.16). The company had revenue of C$63.82 million for the quarter, compared to analysts’ expectations of C$69.20 million. On average, analysts predict that Bonterra Energy will post 0.96 EPS for the current year.

In related news, insider George Frederick Fink acquired 5,000 shares of Bonterra Energy stock in a transaction on Wednesday, December 12th. The stock was purchased at an average cost of C$6.37 per share, with a total value of C$31,850.00. Also, insider Robb Douglas Thompson acquired 4,500 shares of Bonterra Energy stock in a transaction on Tuesday, December 4th. The shares were bought at an average cost of C$7.66 per share, with a total value of C$34,470.00. Insiders bought a total of 26,500 shares of company stock worth $227,130 in the last ninety days.

About Bonterra Energy

Bonterra Energy Corp., an upstream oil and gas company, engages in the production and sale of crude oil, natural gas, and natural gas liquids. It primarily focuses on the development of its Cardium zone within the Pembina and Willesden Green areas located in west central Alberta. The company also holds interests in the Shaunavon area in Saskatchewan, and the Prespatou area of northeast British Columbia.

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