Greenfire Resources (NYSE:GFR) Coverage Initiated by Analysts at BMO Capital Markets

Research analysts at BMO Capital Markets initiated coverage on shares of Greenfire Resources (NYSE:GFR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $10.50 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 75.29% from the stock’s previous close.

Greenfire Resources Price Performance

NYSE:GFR opened at $5.99 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.70 and a current ratio of 0.76. The firm has a 50-day moving average price of $6.00 and a two-hundred day moving average price of $5.69. Greenfire Resources has a twelve month low of $4.68 and a twelve month high of $9.90.

Greenfire Resources (NYSE:GFR) last posted its earnings results on Wednesday, May 15th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $149.09 million for the quarter.

Institutional Trading of Greenfire Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scotia Capital Inc. purchased a new stake in Greenfire Resources during the 4th quarter worth about $222,000. K2 Principal Fund L.P. purchased a new stake in Greenfire Resources during the 3rd quarter worth about $226,000. Cantor Fitzgerald L. P. purchased a new stake in Greenfire Resources during the 4th quarter worth about $406,000. Nokomis Capital L.L.C. purchased a new stake in Greenfire Resources during the 1st quarter worth about $1,988,000. Finally, Sona Asset Management US LLC increased its position in Greenfire Resources by 1.1% during the 1st quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock worth $29,992,000 after purchasing an additional 53,539 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Greenfire Resources Company Profile

Greenfire Resources Ltd., together with its subsidiaries, engages in the development, exploration, and operation of oil and gas properties in the Athabasca oil sands region of Alberta. The company operates the Tier-1 oil sands assets located in Western Canada. It utilizes steam-assisted gravity drainage (SAGD) extraction technology, a situ thermal oil recovery process to recover diluted and non- diluted bitumen.