Storm Resources (SRX) Price Target Cut to C$4.75

Storm Resources (TSE:SRX) had its price target cut by stock analysts at Raymond James from C$5.00 to C$4.75 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target points to a potential upside of 131.71% from the company’s previous close.

Separately, Royal Bank of Canada reiterated an “average” rating and issued a C$3.00 target price (up previously from C$2.50) on shares of Storm Resources in a research note on Sunday, March 3rd.

SRX traded up C$0.07 on Wednesday, hitting C$2.05. The company had a trading volume of 23,199 shares, compared to its average volume of 106,251. Storm Resources has a 12-month low of C$1.43 and a 12-month high of C$3.30. The company has a debt-to-equity ratio of 21.27, a current ratio of 0.86 and a quick ratio of 0.77. The firm has a market capitalization of $237.04 million and a PE ratio of 6.18.

Storm Resources (TSE:SRX) last posted its earnings results on Thursday, February 28th. The company reported C$0.22 earnings per share (EPS) for the quarter. The company had revenue of C$74.80 million during the quarter. As a group, sell-side analysts expect that Storm Resources will post 0.349999991161616 EPS for the current year.

About Storm Resources

Storm Resources Ltd. operates as a crude oil and natural gas exploration and development company in Canada. The company primarily owns interest in lands covering an area of 121,000 net acres in 172 net sections located in Umbach, Nig, and Fireweed areas of Northeast British Columbia. As of December 31, 2018, it had 182,370 thousand barrels of oil equivalent of total proved plus probable reserves.

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