Touchstone Exploration (LON:TXP) Receives “Speculative Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their speculative buy rating on shares of Touchstone Exploration (LON:TXP) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have a GBX 60 ($0.77) target price on the stock.

Several other research firms have also issued reports on TXP. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 60 ($0.77) target price on shares of Touchstone Exploration in a report on Friday, December 13th. Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a report on Tuesday, January 28th.

Touchstone Exploration Price Performance

Shares of LON:TXP opened at GBX 21.85 ($0.28) on Thursday. The company has a market capitalization of £64.34 million, a price-to-earnings ratio of -7.31 and a beta of 0.70. The business’s 50-day moving average is GBX 24.59 and its 200-day moving average is GBX 28.51. Touchstone Exploration has a 1 year low of GBX 20.63 ($0.27) and a 1 year high of GBX 54 ($0.70).

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.