Lycos Energy (CVE:LCX) Sets New 52-Week High – Still a Buy?

Lycos Energy Inc. (CVE:LCX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$2.05 and last traded at C$1.99, with a volume of 136043 shares trading hands. The stock had previously closed at C$2.00.

Analysts Set New Price Targets

Several brokerages recently issued reports on LCX. National Bank Financial upped their price objective on shares of Lycos Energy from C$0.70 to C$2.50 and gave the company a “sector perform” rating in a research note on Wednesday, April 1st. Haywood Securities raised shares of Lycos Energy from a “hold” rating to a “buy” rating and dropped their price objective for the company from C$1.50 to C$0.65 in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Lycos Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$1.73.

Lycos Energy Stock Performance

The firm’s 50 day moving average price is C$1.46 and its two-hundred day moving average price is C$1.18. The firm has a market cap of C$105.41 million, a PE ratio of -1.66 and a beta of -0.07.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.