Canaccord Genuity Group Raises Topaz Energy (TSE:TPZ) Price Target to C$29.50

Topaz Energy (TSE:TPZ) had its price objective hoisted by analysts at Canaccord Genuity Group from C$29.00 to C$29.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 13.90% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets raised their price target on Topaz Energy from C$27.00 to C$29.00 in a research note on Wednesday, July 3rd. Desjardins raised their price target on Topaz Energy from C$26.50 to C$28.50 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank raised their price target on Topaz Energy from C$33.00 to C$34.00 in a research note on Friday, July 12th. Stifel Nicolaus raised their price target on Topaz Energy from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada raised their price target on Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Topaz Energy presently has an average rating of “Buy” and an average price target of C$28.63.

Topaz Energy Stock Up 5.3 %

TPZ traded up C$1.31 during trading on Tuesday, hitting C$25.90. 298,619 shares of the company’s stock traded hands, compared to its average volume of 269,615. The company’s 50 day simple moving average is C$23.66 and its two-hundred day simple moving average is C$22.02. The company has a current ratio of 2.47, a quick ratio of 7.17 and a debt-to-equity ratio of 30.43. Topaz Energy has a 12-month low of C$18.03 and a 12-month high of C$26.10. The stock has a market capitalization of C$3.75 billion, a price-to-earnings ratio of 81.09 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, April 29th. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.03). Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. The business had revenue of C$70.88 million for the quarter, compared to analysts’ expectations of C$78.00 million. Analysts predict that Topaz Energy will post 0.198902 earnings per share for the current fiscal year.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.