Raymond James Upgrades Topaz Energy (TSE:TPZ) to “Moderate Buy”

Topaz Energy (TSE:TPZ) was upgraded by analysts at Raymond James to a “moderate buy” rating in a note issued to investors on Monday, Zacks.com reports. Raymond James also issued estimates for Topaz Energy’s FY2024 earnings at $0.37 EPS.

A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. National Bankshares upped their price target on Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group lifted their price objective on Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday, October 23rd. CIBC increased their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Topaz Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.79.

Topaz Energy Stock Up 1.0 %

TPZ stock opened at C$26.84 on Monday. The business’s 50-day moving average is C$26.23 and its two-hundred day moving average is C$24.54. The company has a market cap of C$3.89 billion, a price-to-earnings ratio of 72.54 and a beta of 0.50. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The company had revenue of C$78.41 million for the quarter, compared to the consensus estimate of C$80.00 million. As a group, analysts forecast that Topaz Energy will post 0.2019855 earnings per share for the current year.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.