Gran Tierra Energy (GTE) Get Boost From Global Hunter Securities - Shares Undervalued

July 3, 2012 9:55 AM EDT
Get Alerts GTE Hot Sheet
Price: $2.65 +1.53%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Shares of Gran Tierra Energy (NYSE: GTE) are getting a boost this morning after Global Hunter Securities initiated coverage on the stock with a 'Buy' rating.

Senior analyst, John Malone, said, "One of the chief characteristics we see in successful small-cap E&Ps is a good spread across the development spectrum. At about 14,000 b/d net of light oil, GTE has a solid producing base in Colombia with the potential to grow production from new discoveries close to existing infrastructure."

Malone also noted the Company's opportunity in Brazil's onshore basin. GTE also has a 10% interest in a higher risk offshore deepwater play. Overall, Malone believes the company is undervalued versus peers making the company attractive (on valuation and metrics basis)

This morning, the stock is up $0.10 (+2.05%) to $4.98, however, the current share price is still at the low end of the 52-wk trading range ($4.20 - $7.27)

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