Storm Resources (TSE:SRX) Price Target Lowered to C$2.50 at Royal Bank of Canada

Storm Resources (TSE:SRX) had its target price lowered by Royal Bank of Canada from C$3.00 to C$2.50 in a report released on Thursday morning, BayStreet.CA reports.

Several other research firms have also commented on SRX. Raymond James reiterated a buy rating and issued a $0.65 price objective on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. National Bank Financial decreased their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Finally, GMP Securities reiterated a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th.

TSE:SRX opened at C$1.75 on Thursday. The company has a debt-to-equity ratio of 22.64, a quick ratio of 0.74 and a current ratio of 0.76. The stock has a market cap of $212.73 million and a price-to-earnings ratio of 6.70. Storm Resources has a 52 week low of C$1.43 and a 52 week high of C$3.24. The company has a 50-day moving average price of C$1.71.

Storm Resources Company Profile

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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