Topaz Energy (TSE:TPZ) Raised to “Moderate Buy” at Raymond James

Topaz Energy (TSE:TPZ) was upgraded by equities research analysts at Raymond James to a “moderate buy” rating in a research note issued to investors on Monday, Zacks.com reports. Raymond James also issued estimates for Topaz Energy’s FY2024 earnings at $0.37 EPS.

A number of other research firms have also recently commented on TPZ. BMO Capital Markets lifted their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Scotiabank increased their price target on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. National Bankshares boosted their price objective on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group increased their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, CIBC boosted their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.79.

Topaz Energy Price Performance

TSE:TPZ opened at C$26.84 on Monday. The firm has a market capitalization of C$3.89 billion, a price-to-earnings ratio of 72.54 and a beta of 0.50. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. The business has a 50 day simple moving average of C$26.23 and a 200-day simple moving average of C$24.54. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$27.78.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.05. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. The company had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Equities analysts forecast that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.