Gear Energy (TSE:GXE) Hits New 52-Week Low at $0.41
Shares of Gear Energy Ltd (TSE:GXE) reached a new 52-week low during trading on Monday . The stock traded as low as C$0.41 and last traded at C$0.41, with a volume of 145100 shares traded. The stock had previously closed at C$0.43.
GXE has been the subject of several recent analyst reports. GMP Securities reduced their target price on shares of Gear Energy from C$0.95 to C$0.70 in a research note on Friday, June 28th. National Bank Financial reduced their target price on shares of Gear Energy from C$1.00 to C$0.95 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Cormark raised their target price on shares of Gear Energy from C$0.90 to C$1.15 in a research note on Tuesday, April 23rd.
The company has a debt-to-equity ratio of 42.08, a current ratio of 1.38 and a quick ratio of 0.70. The company’s 50 day moving average is C$0.50 and its 200 day moving average is C$0.61. The stock has a market cap of $92.00 million and a price-to-earnings ratio of 10.34.
About Gear Energy (TSE:GXE)
Gear Energy Ltd. acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its oil-focused operations are located in three core areas, including Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil. The company is headquartered in Calgary, Canada.
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