Touchstone Exploration Inc NPV (DI) (TXP)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

18.63p
   
  • Change Today:
    -0.25p
  • 52 Week High: 38.00
  • 52 Week Low: 18.13
  • Currency: UK Pounds
  • Shares Issued: 311.46m
  • Volume: 78,064
  • Market Cap: £58.01m
  • Beta: 0.00

Canaccord Genuity cuts target price on Touchstone Exploration

By Iain Gilbert

Date: Monday 09 Dec 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity lowered their target price on oil and gas business Touchstone Exploration from 60.0p to 90.0p on Monday but said there was "still plenty of upside" to the stock despite recent changes in production guidance.
Following Touchstone's guidance for the remainder of FY24, and FY25, Canaccord said it had revised its forecasts to better reflect lower production expectations fuelled by higher decline rates from the company's Ortoire licence.

"We still see considerable value in Touchstone, with our new target price representing a circa 110% upside to Friday's close," said Canaccord. "However, we acknowledge the lower-than-anticipated production from the Cascadura wells has left more work for Touchstone to do to prove the value of its onshore production assets in Trinidad."

Touchstone issued updated guidance for FY25, with a new production range of 6,700-7,300 barrels of oil per day. Alongside this, Canaccord Genuity has new capex expectations of roughly $23.0m in 2025, resulting in operating cash flow of approximately $22.0m and an FY25 year-end net debt of around $30.0m.

"We reduce our estimated FY25e production to circa 7,000 boepd from our previous circa 15,000 boepd that assumed a far slower decline from the Cascadura 1ST1 and Deep wells, and we have also taken a more conservative approach to modelling any future Ortoire wells," added the Canadian bank, which reiterated its 'speculative buy' rating on the stock.









Reporting by Iain Gilbert at Sharecast.com

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TXP Market Data

Currency UK Pounds
Share Price 18.63p
Change Today -0.25p
% Change -1.32 %
52 Week High 38.00
52 Week Low 18.13
Volume 78,064
Shares Issued 311.46m
Market Cap £58.01m
Beta 0.00

TXP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
85.36% below the market average85.36% below the market average85.36% below the market average85.36% below the market average85.36% below the market average
94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average
Price Trend
83.03% below the market average83.03% below the market average83.03% below the market average83.03% below the market average83.03% below the market average
56.16% below the sector average56.16% below the sector average56.16% below the sector average56.16% below the sector average56.16% below the sector average
Income Not Available
Growth
15.52% above the market average15.52% above the market average15.52% above the market average15.52% above the market average15.52% above the market average
2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TXP Dividends

No dividends found

Trades for 30-May-2025

Time Volume / Share Price
08:22 18,000 @ 18.75p
08:15 64 @ 19.00p
08:08 50,000 @ 18.65p
08:02 10,000 @ 18.78p

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