Shares of Storm Resources Ltd. (TSE:SRX) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$3.14 and last traded at C$3.30, with a volume of 209318 shares changing hands. The stock had previously closed at C$0.33.
SRX has been the topic of several analyst reports. National Bank Financial lowered shares of Storm Resources from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$4.50 to C$4.25 in a research report on Wednesday, November 15th. GMP Securities reduced their price target on shares of Storm Resources from C$6.25 to C$5.75 in a research report on Thursday, November 16th. Raymond James Financial, Inc. lowered shares of Storm Resources from an “outperform” rating to a “market perform” rating in a research report on Friday, October 13th. Finally, BMO Capital Markets reduced their price target on shares of Storm Resources to C$4.50 and set a “market perform” rating on the stock in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of C$5.57.
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Storm Resources Company Profile
Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.
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