CIBC Trims Storm Resources (TSE:SRX) Target Price to C$2.50

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Storm Resources (TSE:SRX) had its price objective trimmed by CIBC from C$3.25 to C$2.50 in a research report released on Thursday morning, BayStreet.CA reports.

Several other research analysts also recently weighed in on SRX. Royal Bank of Canada restated a buy rating and set a $2.50 price target on shares of in a research report on Thursday. National Bank Financial reduced their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. GMP Securities restated a buy rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Finally, Raymond James restated a buy rating and set a $0.65 price target on shares of DB Commodity Double Short ETN in a research report on Wednesday, May 15th.

Shares of Storm Resources stock opened at C$1.75 on Thursday. The stock has a 50-day moving average price of C$1.71. The firm has a market capitalization of $212.73 million and a P/E ratio of 6.70. Storm Resources has a fifty-two week low of C$1.43 and a fifty-two week high of C$3.24. The company has a debt-to-equity ratio of 22.64, a quick ratio of 0.74 and a current ratio of 0.76.

About Storm Resources

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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