Gran Tierra Energy Inc. (TSE:GTE) (AMEX:GTE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Scotiabank in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. They presently have a C$5.50 price target on the stock. Scotiabank’s price target would indicate a potential upside of 111.54% from the company’s previous close.

Several other equities research analysts have also issued reports on GTE. FirstEnergy Capital reaffirmed an “outperform” rating on shares of Gran Tierra Energy in a research note on Friday, August 12th. TD Securities reaffirmed an “action list buy” rating and issued a C$6.00 price objective on shares of Gran Tierra Energy in a research note on Tuesday, November 8th. Zacks Investment Research lowered Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Gran Tierra Energy in a research note on Wednesday, September 14th. Finally, Paradigm Capital raised their price objective on Gran Tierra Energy from C$4.75 to C$5.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of C$6.62.

Analyst Recommendations for Gran Tierra Energy (TSE:GTE)

Shares of Gran Tierra Energy (TSE:GTE) traded up 12.61% during midday trading on Wednesday, reaching $3.93. The company had a trading volume of 3,376,034 shares. The firm’s 50 day moving average price is $4.01 and its 200-day moving average price is $3.88. The stock’s market capitalization is $1.40 billion. Gran Tierra Energy has a 1-year low of $2.56 and a 1-year high of $4.44.

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In other news, VP Rodger Derrick Trimble bought 12,500 shares of the firm’s stock in a transaction on Tuesday, November 29th. The stock was acquired at an average cost of C$3.00 per share, with a total value of C$37,500.00. Following the transaction, the vice president now directly owns 37,500 shares in the company, valued at approximately C$112,500. Also, insider Susan Lynn Mawdsley bought 36,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were purchased at an average cost of C$2.98 per share, with a total value of C$107,280.00. Following the completion of the transaction, the insider now owns 15,500 shares in the company, valued at C$46,190. The disclosure for this purchase can be found here.

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Gran Tierra Energy by 21.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 920,860 shares of the company’s stock worth $2,772,000 after buying an additional 163,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gran Tierra Energy by 7.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,371,815 shares of the company’s stock worth $28,025,000 after buying an additional 672,125 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of Gran Tierra Energy by 51.5% in the third quarter. Highbridge Capital Management LLC now owns 313,554 shares of the company’s stock worth $944,000 after buying an additional 106,547 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Gran Tierra Energy by 208.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 323,235 shares of the company’s stock worth $973,000 after buying an additional 218,510 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Gran Tierra Energy by 100.0% in the third quarter. Gotham Asset Management LLC now owns 91,458 shares of the company’s stock worth $394,000 after buying an additional 45,719 shares in the last quarter.

About Gran Tierra Energy

Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.

Stock Target Prices

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