Topaz Energy Corp (TPZ – Research Report) has received a rating update from a Wall Street analyst today. TD Securities’ analyst Aaron Bilkoski expressed some doubt about the stock, as it was downgraded to Hold with a C$23.00 price target.
According to TipRanks.com, Bilkoski is a 5-star analyst with an average return of 11.9% and a 52.3% success rate. Bilkoski covers the NA sector, focusing on stocks such as Crescent Point Energy, PrairieSky Royalty, and Birchcliff Energy.
Currently, the analyst consensus on Topaz Energy Corp is a Strong Buy with an average price target of C$28.62.
Based on Topaz Energy Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$78.19 million and net profit of C$7.89 million. In comparison, last year the company earned revenue of C$81.34 million and had a net profit of C$11.41 million.
Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.
The company’s shares closed last Tuesday at C$21.29.
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