NYSEAM:GTEOil and Gas
Gran Tierra Energy (GTE) Stock Jumps As Profit Returns But Debt Lingers
Gran Tierra Energy just handed the market a sentiment shock. The stock ripped 38% higher to US$9.44 in the first full session after earnings, even though investors came into the day staring at a bruising record of losses over the past year. The spark was simple and powerful. Gran Tierra Energy swung from a US$119 million loss in the prior quarter to a US$25 million net profit in the June quarter, backed by roughly US$85 million of adjusted earnings before interest, tax, depreciation and...