Topaz Energy (TSE:TPZ) Given New C$32.00 Price Target at Royal Bank of Canada

Topaz Energy (TSE:TPZ) had its price target raised by Royal Bank of Canada from C$30.00 to C$32.00 in a report released on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 14.12% from the company’s previous close.

Several other research analysts have also issued reports on the stock. TD Securities increased their price target on shares of Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group boosted their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. National Bankshares increased their price objective on shares of 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. ATB Capital cut Topaz Energy from an “overweight” rating to a “neutral” rating and increased their price target for the company from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. Finally, Scotiabank boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$31.13.

Topaz Energy Stock Up 1.4 %

TPZ traded up C$0.39 on Wednesday, reaching C$28.04. 369,054 shares of the company traded hands, compared to its average volume of 268,250. The company has a market cap of C$4.06 billion, a price-to-earnings ratio of 75.32 and a beta of 0.50. The stock’s 50 day moving average price is C$26.32 and its 200-day moving average price is C$24.73. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$28.13. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17.

Topaz Energy Company Profile

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.