Topaz Energy (TSE:TPZ) Upgraded by Raymond James to “Moderate Buy”

Topaz Energy (TSE:TPZ) was upgraded by equities research analysts at Raymond James to a “moderate buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. Raymond James also issued estimates for Topaz Energy’s FY2024 earnings at $0.37 EPS.

TPZ has been the topic of several other research reports. National Bankshares raised their price target on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised their price target on Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday, October 23rd. Jefferies Financial Group raised their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, July 15th. BMO Capital Markets raised their price target on Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.79.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$26.84 on Monday. The stock’s fifty day moving average is C$26.23 and its 200-day moving average is C$24.54. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The stock has a market capitalization of C$3.89 billion, a PE ratio of 72.54 and a beta of 0.50. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$27.78.

Topaz Energy (TSE:TPZ) last announced its earnings results on Monday, July 29th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The company had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. Equities research analysts expect that Topaz Energy will post 0.2019855 EPS 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.