Touchstone Exploration (LON:TXP) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Touchstone Exploration (LON:TXP) in a research report report published on Thursday, Marketbeat reports. Canaccord Genuity Group currently has a GBX 60 ($0.78) price target on the stock.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a research report on Friday, December 13th. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday.

Touchstone Exploration Stock Performance

TXP opened at GBX 23.45 ($0.30) on Thursday. The stock has a market capitalization of £69.05 million, a PE ratio of -7.85 and a beta of 0.70. The stock’s 50 day moving average price is GBX 23.88 and its 200-day moving average price is GBX 27.87. Touchstone Exploration has a 52-week low of GBX 20.28 ($0.26) and a 52-week high of GBX 54 ($0.70).

About Touchstone Exploration

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.