Gran Tierra Energy (TSE:GTE) Stock Price Up 8.3% – Time to Buy?

Shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) rose 8.3% during mid-day trading on Tuesday . The company traded as high as C$5.35 and last traded at C$5.35. Approximately 109,725 shares changed hands during mid-day trading, an increase of 145% from the average daily volume of 44,766 shares. The stock had previously closed at C$4.94.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada decreased their price objective on shares of Gran Tierra Energy from C$9.00 to C$8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Gran Tierra Energy presently has an average rating of “Hold” and an average price target of C$10.17.

Gran Tierra Energy Trading Up 0.3%

The firm has a market cap of C$203.66 million, a PE ratio of -2.25, a PEG ratio of 0.23 and a beta of 0.65. The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 176.57. The stock’s fifty day simple moving average is C$5.70 and its two-hundred day simple moving average is C$6.13.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.