BlackPearl Resources (PXX) Shares Up 4.2% Following Analyst Upgrade

Shares of BlackPearl Resources Inc. (TSE:PXX) rose 4.2% during trading on Thursday after TD Securities raised their price target on the stock from C$1.15 to C$1.40. TD Securities currently has a hold rating on the stock. BlackPearl Resources traded as high as C$1.26 and last traded at C$1.25. Approximately 64,700 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 162,067 shares. The stock had previously closed at C$1.20.

In other news, Director John Larry Festival acquired 177,900 shares of BlackPearl Resources stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of C$1.07 per share, with a total value of C$190,353.00.

The stock has a market capitalization of $420.33, a price-to-earnings ratio of 63.00 and a beta of -0.01.

BlackPearl Resources (TSE:PXX) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported C($0.02) earnings per share for the quarter. BlackPearl Resources had a negative return on equity of 3.43% and a negative net margin of 19.12%.

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About BlackPearl Resources

BlackPearl Resources Inc is a Canda-based oil and natural gas company, which is engaged in the business of oil and gas exploration, development and production in North America. Its primary focus is on heavy oil and oil sands projects in Western Canada. Its core properties include Onion Lake, Saskatchewan, which is a conventional heavy oil property, as well as a thermal enhanced oil recovery project; Mooney, Alberta, which is a conventional heavy oil property using horizontal drilling and alkali, surfactant, polymer flooding, and Blackrod, Alberta, which is a bitumen property located in the Athabasca oil sands region using the Steam Assisted Gravity Drainage recovery process.

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