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Gear Energy Ltd. (GXE.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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0.6500+0.0200 (+3.17%)
At close: 3:59PM EDT
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  • D
    DYK
    Eric Nuttall - Ninepoint Partners - BNN - 2021 Fri April 30 - Gear Energy GXE - thinks they are a Shrewd operator, p/e 10x - 2x cashflow - With Oil at $60 has .97 price target, at $70- target 1.36 - could be debt-free by next yr. Just an opinion - who knows for sure, but what else is going to keep up with inflation?
  • T
    Thor
    With the release of this quarter, Gear has successfully accomplished the goal of providing an exceptionally strong balance sheet. With net debt being reduced by 47 per cent from a year ago, Gear now has material optionality to once again focus on providing shareholder returns in the most efficient and low risk ways possible. The outlook for the remainder of 2021 looks very strong. Gear is predicting material free funds from operations as a result of modest production growth, price stability and an improving cost profile. In aggregate the Company focus will continue to be on significant debt reduction with a slight increase to capital investment for the rest of the year. This modest increase is intended to take advantage of a few very strategic asset opportunities and to invest in decline-reducing water flood projects which will not only provide economic returns this year but will also enhance the ability to generate incremental free funds from operations into the future.
    QUARTERLY HIGHLIGHTS

    Funds from operations for the first quarter of 2021 was $8.3 million, an increase of 32 per cent from the first quarter of 2020 as a result of significantly higher commodity prices. First quarter realized prices increased from $31.24 per barrel in 2020 to $50.46 per barrel in 2021. The improved commodity prices were driven by an increase in the West Texas Intermediate ("WTI") benchmark oil price which averaged US$57.84 per barrel in the first quarter along with narrowing Canadian oil differentials on both the heavy and the light oil benchmarks.
  • T
    Thor
    higher guidance . way better EPS . massive debt repayment ! boom !
  • A
    Abdul
    Massive volume in comparison to daily average. High expectations of earnings release or acquisition target.
  • R
    Ray
    Giving up on this for now, just sold my 125k shares at the price i bought them at years ago and out flat.
  • w
    weic
    This is up 19% today
  • C
    Cole
    Very confused on why I dropped 10%, anyone know?
  • B
    Big
    Am I the only one out here gobbling up these cheap shares on a fine red day?
  • C
    Colin
    earnings call today I believe?
  • A
    A4away
    From website:
    Quarterly Release Schedule
    2021 Q1 – May 5, 2021 (after market close)
    2021 AGM – May 5, 2021 (3.00pm)
  • C
    Cole
    What would be a good price to pull out at?
  • A
    Abdul
    Any thoughts for opening price after earnings release?
  • A
    Abdul
    Any news on earnings?
  • M
    Mike
    Thoughts on earnings?
  • M
    Mark
    Any thoughts on tomorrow open with earning out now?
  • P
    Pedro
    great report!
  • C
    Colin
    Been watching this for a while. Took out a position on Friday @ .54 Let's see where this can go
  • T
    Tango
    it's 5 May after market
  • M
    Mike
    This has been selling off when Crude Oil prices and most oil stocks are up. What's going on?
  • A
    Abdul
    A disappointing day indeed. Looking forward for better days ahead.