Insider Buying at Gear Energy Ltd.

On January 27th, Don Gray, a director at Gear Energy Ltd. (TSE:GXE - Get Free Report), purchased 1,953,000 shares of the company's stock. The acquisition occurred at an average price of C$0.50 per share, totaling a value of C$976,500.00.

Recent Stock Performance

During trading on Monday, Gear Energy's shares increased by C$0.01, closing at C$0.51. The trading volume for the day reached 788,081 shares, surpassing the average volume of 593,738 shares. The company has financial indicators such as a quick ratio of 0.56 and a current ratio of 0.95, while its debt-to-equity ratio stands at 6.26. As for its moving averages, the 50-day moving average is C$0.51 and the 200-day moving average is C$0.59. Over the past year, the stock has recorded a low of C$0.45 and a high of C$0.80. Currently, Gear Energy has a market capitalization of C$134.43 million, with a price-to-earnings (PE) ratio of 10.20 and a beta value of 3.52.

Earnings Report

Gear Energy's latest earnings announcement was on November 7th, where the company reported earnings per share (EPS) of C$0.03 for the last quarter. This result fell short of analyst expectations, which had projected EPS of C$0.04 by C($0.01). The company's return on equity was recorded at 5.36%, while its net margin stood at 9.65%. The firm reported revenue of C$38.82 million for the quarter, slightly above analyst estimates of C$38.70 million. Analysts anticipate that Gear Energy Ltd. will achieve approximately 0.14 EPS for the current year.

Dividend Announcement

Recently, Gear Energy declared a monthly dividend which was distributed on December 31st. Shareholders on record as of that date received a dividend payment of $0.005. The ex-dividend date was set for December 16th. This translates to an annualized dividend of $0.06, indicating a yield of 11.76%. Currently, Gear Energy's dividend payout ratio is at 120.00%.

Analyst Ratings Update

In a recent report dated October 15th, Atb Cap Markets downgraded Gear Energy from a "strong-buy" rating to a "hold" rating.

Company Overview

Gear Energy Ltd. focuses on the exploration and production of petroleum and natural gas. The company is involved in acquiring, developing, and managing assets related to these natural resources in Canada, particularly in regions like Central Alberta and West Central and Southeast Saskatchewan.

Insider, Buying, Stock