Cona Resources Ltd (NBZ) Downgraded to Hold at TD Securities

Cona Resources Ltd (TSE:NBZ) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Friday, June 30th. They currently have a C$3.25 price objective on the oil and gas exploration company’s stock, down from their previous price objective of C$4.25. TD Securities’ price objective would suggest a potential upside of 5.52% from the stock’s current price.

Separately, Scotiabank decreased their price target on shares of Cona Resources from C$4.75 to C$4.50 and set a “sector perform” rating for the company in a research report on Tuesday, March 14th.

Cona Resources (NBZ) traded down 1.91% on Friday, reaching $3.08. The company had a trading volume of 68,700 shares. Cona Resources has a 52 week low of $2.96 and a 52 week high of $4.84. The stock’s 50-day moving average is $3.29 and its 200-day moving average is $3.50. The company’s market capitalization is $310.49 million.

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Cona Resources Company Profile

Cona Resources Ltd, formerly Northern Blizzard Resources Inc, is a Canada-based crude oil production and development company focused on maximizing oil recovery from its heavy oil resource base. The Company is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada.

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