Pine Cliff Energy Ltd (PNE) Hits New 12-Month Low at $0.59

Pine Cliff Energy Ltd (TSE:PNE)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as C$0.59 and last traded at C$0.60, with a volume of 352,700 shares trading hands. The stock had previously closed at C$0.60.

Separately, TD Securities downgraded Pine Cliff Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from C$1.05 to C$0.85 in a report on Friday, June 30th.

The stock’s 50-day moving average price is $0.67 and its 200-day moving average price is $0.73. The stock’s market cap is $184.25 million.

In related news, insider Robert Disbrow purchased 50,000 shares of the stock in a transaction on Thursday, September 21st. The shares were purchased at an average price of C$0.66 per share, with a total value of C$33,000.00. Over the last 90 days, insiders acquired 291,500 shares of company stock valued at $197,455.

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Pine Cliff Energy Company Profile

Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.

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