Canacol Energy (TSE:CNE) Hits New 1-Year Low – Should You Sell?

Canacol Energy Ltd (TSE:CNE)’s share price reached a new 52-week low on Wednesday . The company traded as low as C$2.86 and last traded at C$2.88, with a volume of 12162 shares trading hands. The stock had previously closed at C$2.90.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price objective on Canacol Energy from C$5.40 to C$5.50 and gave the stock a “hold” rating in a research report on Tuesday, July 16th.

Canacol Energy Stock Performance

The company has a market cap of C$96.19 million, a price-to-earnings ratio of 6.00 and a beta of 0.82. The firm has a 50-day simple moving average of C$3.42 and a 200 day simple moving average of C$4.13. The company has a quick ratio of 1.34, a current ratio of 0.97 and a debt-to-equity ratio of 203.67.

Canacol Energy (TSE:CNE) last announced its earnings results on Thursday, August 8th. The oil and gas exploration company reported C($0.85) earnings per share for the quarter, missing the consensus estimate of C$1.15 by C($2.00). The business had revenue of C$129.40 million for the quarter, compared to analyst estimates of C$119.69 million. Canacol Energy had a return on equity of 3.50% and a net margin of 3.45%. On average, sell-side analysts predict that Canacol Energy Ltd will post 0.2408551 earnings per share for the current fiscal year.

About Canacol Energy

Canacol Energy Ltd operates as an oil and gas company in Colombia. It engages in the exploration and development of natural gas. The company was formerly known as BrazAlta Resources Corp. and changed its name to Canacol Energy Ltd in February 2009. The company was incorporated in 1970 and is headquartered in Calgary, Canada.