Gran Tierra Energy (GTE) Pulls Back From The Recent Rally: Will It Rebound?

Although the energy sector has generated considerable interest from investors in recent times, the situation with the Gran Tierra Energy Inc (NYSE: GTE) stock has changed dramatically.

The Gran Tierra stock corrected sharply in recent days after having made significant gains not too long ago and in such a situation, it might be a good idea to take a closer look at the company. However, it is easy to see why the stock might have corrected sharply. The answer lies in the company’s fourth-quarter financial results which were released on February 25.

In the fourth quarter, Gran Tierra suffered a loss of as huge as $47.9 million. While it is a substantial figure, it is also necessary to point out that in the same period last year; the company had actually managed to turn a profit. Hence, the correction in the stock is understandable. The Canadian company suffered losses of 13 cents a share, which came down to 1 cent a share post adjustments.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.