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

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

A number of other brokerages have also recently commented on SRX. GMP Securities reaffirmed a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Raymond James reaffirmed a buy rating and issued a $0.65 target price on shares of DB Commodity Double Short ETN in a report on Wednesday, May 15th. Finally, National Bank Financial decreased their target price on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a report on Tuesday, June 25th.

SRX stock opened at C$1.75 on Thursday. The stock has a market cap of $212.73 million and a P/E ratio of 6.70. Storm Resources has a 1 year low of C$1.43 and a 1 year high of C$3.24. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 22.64. The business has a fifty 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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