At SpeculatingStocks You Can Discover Stocks, Post Anonymously, and React to Posts. Login is Optional.
Watch for Reactions to Your Posts or React Below to Other's Posts. Discover Stocks and Market Data.

August 16, 2005 Stock Pick: CanArgo Energy Corporation (CNR)

Stock Price: $1.11

CanArgo is an independent oil and gas exploration and production company with its principal oil and gas operations currently located in the Republic of Georgia. The company acts as a holding company that carries out its activities through subsidiaries and associated companies.

CNR has been rebounding strongly after hitting $0.65 on July 22nd and is now about to break through resistance at $1.20. Energy stocks are still going strong especially the ones that are still undervalued or not necessarily overvalued.

The company currently has total assets of $130.7 million and total liabilities of only $20.5 million. There is over $18.8 million in cash on the balance sheet and stock holders equity of $110 million. Right now, there are 186 million shares in the float.

CNR hit $2.09 on March 3rd, we believe it is headed back there.

Untitled Document