Pine Cliff Energy (TSE:PNE) Upgraded by Canaccord Genuity Group to Buy Rating

Pine Cliff Energy (TSE:PNE - Get Free Report) was upgraded by Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a C$0.90 price target on the stock. Canaccord Genuity Group's price target indicates a potential upside of 63.64% from the company's previous close.

Separately, Desjardins decreased their price objective on Pine Cliff Energy from C$1.10 to C$0.95 and set an "outperform" rating on the stock in a report on Wednesday, March 19th.

Pine Cliff Energy Stock Down 5.2 %

PNE traded down C$0.03 on Thursday, hitting C$0.55. 636,321 shares of the company were exchanged, compared to its average volume of 194,619. The company has a market cap of C$199.20 million, a PE ratio of -13.28 and a beta of 0.37. The company has a debt-to-equity ratio of 76.74, a quick ratio of 1.48 and a current ratio of 0.47. Pine Cliff Energy has a 12 month low of C$0.55 and a 12 month high of C$1.14. The stock's fifty day moving average is C$0.79 and its 200-day moving average is C$0.87.

Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd is a Canadian natural gas focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company owns a Western Canadian Sedimentary Basin, Ghost Pine/Three Hills and Camrose/Viking areas of Central Alberta, several gas assets in Southeast Alberta and Southwest Saskatchewan, non-operated properties in the Sundance, Harmattan, and Garrington areas of Alberta and others.