Storm Resources Ltd (TSE:SRX) shares were up 4.3% during mid-day trading on Wednesday . The company traded as high as C$1.45 and last traded at C$1.45, approximately 39,840 shares traded hands during trading. A decline of 67% from the average daily volume of 122,288 shares. The stock had previously closed at C$1.39.
A number of equities analysts have issued reports on the stock. CIBC decreased their price objective on shares of Storm Resources from C$2.50 to C$2.00 in a research note 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 on the stock in a report on Wednesday, November 13th. Finally, Raymond James set a C$2.00 price objective on shares of Storm Resources and gave the stock a “market perform” rating in a research note on Wednesday, November 13th.
The firm’s fifty day simple moving average is C$1.34 and its 200 day simple moving average is C$1.53. The company has a market capitalization of $173.83 million and a PE ratio of 5.14. The company has a debt-to-equity ratio of 26.38, a current ratio of 0.54 and a quick ratio of 0.47.
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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