Canaccord Genuity Initiates Coverage on Touchstone Exploration (LON:TXP)

Analysts at Canaccord Genuity began coverage on shares of Touchstone Exploration (LON:TXP) in a research note issued on Monday, Digital Look reports. The firm set a “speculative buy” rating and a GBX 72 ($0.89) price target on the stock. Canaccord Genuity’s price objective points to a potential upside of 32.11% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. FinnCap boosted their price target on shares of Touchstone Exploration from GBX 51 ($0.63) to GBX 68 ($0.84) and gave the company a “corporate” rating in a report on Monday, June 22nd. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a report on Monday, June 15th.

Shares of Touchstone Exploration stock opened at GBX 54.50 ($0.67) on Monday. The firm has a market capitalization of $100.00 million and a PE ratio of -6.06. The company has a debt-to-equity ratio of 41.40, a current ratio of 1.68 and a quick ratio of 1.59. The company’s fifty day moving average price is GBX 44.72 and its two-hundred day moving average price is GBX 32.10. Touchstone Exploration has a 52-week low of GBX 9.80 ($0.12) and a 52-week high of GBX 56.65 ($0.70).

In other news, insider John D. Wright sold 56,300 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of GBX 53 ($0.65), for a total value of £29,839 ($36,720.40).

Touchstone Exploration Company Profile

Touchstone Exploration Inc primarily engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Republic of Trinidad and Tobago. The company was formerly known as Petrobank Energy and Resources Ltd. and changed its name to Touchstone Exploration Inc in May 2014.

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