TAG Oil (CVE:TAO) Trading Down 8.6% – What’s Next?

Shares of TAG Oil Ltd. (CVE:TAO) were down 8.6% during mid-day trading on Friday . The company traded as low as C$0.16 and last traded at C$0.16. Approximately 189,450 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 186,636 shares. The stock had previously closed at C$0.18.

Analyst Upgrades and Downgrades

TAO has been the topic of a number of analyst reports. Ventum Cap Mkts upgraded TAG Oil to a “strong-buy” rating in a report on Monday, July 8th. Haywood Securities raised TAG Oil to a “strong-buy” rating in a research note on Thursday, August 15th.

TAG Oil Stock Down 8.6 %

The stock has a market capitalization of C$29.62 million, a P/E ratio of -3.20 and a beta of -0.05. The firm has a 50 day moving average price of C$0.28.

TAG Oil (CVE:TAO) last released its earnings results on Thursday, August 29th. The company reported C($0.01) EPS for the quarter. On average, equities analysts anticipate that TAG Oil Ltd. will post 0.1306306 EPS for the current fiscal year.

About TAG Oil

TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in Canada, the Middle East, and North Africa. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.