måndag 29 augusti 2016

Canacol höjd riktkurs

The Globe and Mail reports in its Thursday, Aug. 25, edition that Mackie Research Capital analyst Bill Newman says Canacol Energy ($4.22) has "substantial natural gas production base sold under long-term contracts that provides a stable cash flow stream to fund the growth of the company." The Globe's Karen How writes in the Eye On Equities column that Mr. Newman says, "With the success of the Nispero 1 exploration well, CNE has added four more wells to its 2016 drilling program." Mr. Newman says part of the goal of the company's drilling program is to increase total natural gas production capacity. Mr. Newman is holding firm on his "buy" rating. The Mackie Research stockpicker, however, increased his price target to $6.50 from $6. Analysts on average target the shares at $4.85. Mr. Newman says in a note, "The goal of the drilling program is to prove up 100 bcf (billion cubic feet) of new reserves that will provide the reserve base for new natural gas sales contracts and to increase total natural gas production capacity to 190 mmcf/d (million cubic feet equivalent per day) in 2017 to supply the new contracts." The Globe's Ian Tam recommended buying Canacol on April 28. It was then worth $3.89.

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