Should Investors Be Buying Gran Tierra Energy Inc (TSE:GTE) Shares? Scotia Capital Upgrades The Stock

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Gran Tierra Energy Inc (TSE:GTE) Stock Upgrade

In an analyst note revealed to investors on 18 December, Scotia Capital raised Gran Tierra Energy Inc (TSE:GTE) shares to respectable Outperform rating from a Sector Perform. They now have a $4.50 PT on shares. and their PT would suggest a possible upside of 38.89% over the closing share price.

The stock increased 6.93% or $0.21 on December 18, striking $3.24. Approximately 1.25M shares of stock traded hands or 214.27% up from the average. Gran Tierra Energy Inc. (TSE:GTE) has declined 25.00% since May 18, 2015 and is downtrending. It has underperformed by 21.19% the S&P500.

 Should Investors Be Buying Gran Tierra Energy Inc (TSE:GTE) Shares? Scotia Capital Upgrades The Stock

Gran Tierra Energy Inc. is an energy Company. The company has a market cap of $857.09 million. Through its subsidiaries, the Company is engaged in gas and oil acquisition, exploration, development and production. It currently has negative earnings. The Firm owns the rights to gas and oil properties in Colombia, Peru and Brazil.

According to Zacks Investment Research, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves.”

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