Raymond James Reiterates C$1.75 Price Target for Storm Resources (TSE:SRX)

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Raymond James set a C$1.75 price objective on Storm Resources (TSE:SRX) in a research report released on Monday morning, BayStreet.CA reports. The firm currently has a market perform rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Cormark lifted their price objective on shares of Storm Resources from C$3.00 to C$3.25 in a research note on Friday, July 17th. National Bank Financial upgraded shares of Storm Resources from a sector perform rating to an outperform rating and lifted their price objective for the company from C$1.57 to C$2.00 in a research note on Monday, August 10th. Finally, CIBC boosted their price target on shares of Storm Resources from C$2.50 to C$2.75 in a research report on Monday.

Shares of TSE SRX opened at C$1.94 on Monday. Storm Resources has a fifty-two week low of C$0.85 and a fifty-two week high of C$2.02. The firm’s 50-day simple moving average is C$1.55 and its 200 day simple moving average is C$1.34. The company has a quick ratio of 0.56, a current ratio of 0.89 and a debt-to-equity ratio of 29.46. The stock has a market cap of $192.06 million and a P/E ratio of 11.09.

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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