Confidence in Gran Tierra Energy (NYSEMKT:GTE) Shares by Citigroup Fall.


Gran Tierra Energy (NYSEMKT:GTE) Receives a Downgrade

The old rating for Gran Tierra Energy (NYSEMKT:GTE) shares of a “Buy” has been discontinued, as stock research analysts at Citigroup downgraded the current rating for Gran Tierra Energy (NYSEMKT:GTE) shares to a “Neutral”.

From a total of 9 analysts covering Gran Tierra Energy (NYSEMKT:GTE) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 45% of the ratings are positive. The highest target price is $4.24 while the lowest target price is $2.4. The mean of all analyst targets is $3.4 with a 91.05% above today’s ($1.9) stock price. Gran Tierra Energy was the topic of 3 analyst reports since September 9, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs upgraded shares on September 11 to “Neutral” rating.

Approximately 393,745 shares of stock traded hands. Gran Tierra Energy Inc. (NYSEMKT:GTE) has declined 45.55% since May 11, 2015 and is downtrending. It has underperformed by 41.14% the S&P500.

Gran Tierra Energy Inc. is an energy Company. The company has a market cap of $523.87 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.”