Storm Resources (SRX) Stock Price Up 922.7%

Storm Resources Ltd (TSE:SRX) shares rose 922.7% during mid-day trading on Thursday . The company traded as high as C$2.25 and last traded at C$2.25. Approximately 299,316 shares changed hands during trading, an increase of 278% from the average daily volume of 79,196 shares. The stock had previously closed at C$0.22.

SRX has been the topic of a number of analyst reports. National Bank Financial decreased their target price on shares of Storm Resources from C$4.25 to C$3.75 and set a “sector perform” rating on the stock in a research report on Tuesday, January 9th. GMP Securities decreased their target price on shares of Storm Resources from C$6.25 to C$5.75 in a research report on Thursday, November 16th. Raymond James Financial lowered shares of Storm Resources from an “outperform” rating to a “market perform” rating in a research report on Friday, October 13th. Finally, CIBC decreased their target price on shares of Storm Resources from C$3.75 to C$3.00 in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of C$5.11.

The stock has a market cap of $269.86, a PE ratio of 14.40 and a beta of 0.24.

Storm Resources (TSE:SRX) last posted its quarterly earnings results on Tuesday, November 14th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.02 by C($0.01).

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About Storm Resources

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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