Gran Tierra Energy (LON:GTE) Sets New 12-Month High – Here’s Why

Gran Tierra Energy Inc. (LON:GTE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 848 and last traded at GBX 705, with a volume of 24191 shares traded. The stock had previously closed at GBX 515.

Analysts Set New Price Targets

Separately, Peel Hunt reiterated a “buy” rating and set a GBX 1,119 target price on shares of Gran Tierra Energy in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gran Tierra Energy currently has a consensus rating of “Buy” and an average price target of GBX 1,119.

Gran Tierra Energy Stock Performance

The stock has a market cap of £249.29 million, a PE ratio of -0.85, a price-to-earnings-growth ratio of 0.23 and a beta of 0.13. The company’s 50-day moving average price is GBX 508.19 and its 200 day moving average price is GBX 516.60.

About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.