BMO Capital Markets Cuts Spartan Delta (TSE:SDE) Price Target to C$5.00

Spartan Delta (TSE:SDE) had its price target cut by stock analysts at BMO Capital Markets from C$6.00 to C$5.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 61.29% from the stock’s current price.

A number of other brokerages also recently weighed in on SDE. Cormark upgraded shares of Spartan Delta to a “strong-buy” rating in a research report on Monday, September 23rd. National Bankshares cut their target price on shares of Spartan Delta from C$6.00 to C$5.50 in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$5.50.

Spartan Delta Stock Performance

Shares of TSE:SDE traded down C$0.06 during trading on Friday, hitting C$3.10. 90,134 shares of the company traded hands, compared to its average volume of 288,281. The stock has a market capitalization of C$536.92 million, a price-to-earnings ratio of 3.76 and a beta of 1.49. The business’s fifty day moving average is C$3.48 and its 200-day moving average is C$3.80. Spartan Delta has a one year low of C$2.78 and a one year high of C$4.36. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 30.43.

Spartan Delta (TSE:SDE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.02 earnings per share (EPS) for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. The business had revenue of C$60.55 million during the quarter. As a group, equities analysts predict that Spartan Delta will post 0.305004 earnings per share for the current fiscal year.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.