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Equinox Partners Investment Management LLC, along with its affiliated entities, has recently expanded its stake in Gran Tierra Energy Inc. (NYSE:GTE) through a series of transactions. According to InvestingPro data, the stock has seen significant pressure, down about 56% over the past year, with shares trading well below their 52-week high of $10.40. On April 4 and April 7, the firm purchased a total of 269,460 common shares of Gran Tierra, with prices ranging from $3.94 to $4.11 per share. The total value of these acquisitions amounts to approximately $1.08 million. The company maintains a moderate debt level with a debt-to-equity ratio of 1.84 and generated revenue of $622 million in the last twelve months, with a healthy gross profit margin of 64.5%.
The transactions were carried out by Equinox Partners LP, Kuroto Fund LP, and Mason Hill Partners LP, all managed by Equinox Partners Investment Management. Following these purchases, the ownership stakes held by these entities have increased significantly, with Equinox Partners LP now holding 1,855,436 shares, and the managed accounts holding 1,566,517 shares.
These acquisitions reflect Equinox Partners' continued confidence in Gran Tierra Energy, a company engaged in the exploration and production of crude petroleum and natural gas. The investment firm, led by Sean M. Fieler, acts as the investment advisor for the funds involved in these transactions. For deeper insights into GTE's valuation and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports.
In other recent news, Gran Tierra Energy reported a notable improvement in its financial performance for the fourth quarter of 2024, achieving a net income of $3 million, reversing a net loss of $6.3 million from the previous year. Despite this financial turnaround, the company experienced an 11.64% decline in its stock price, potentially reflecting investor concerns about future earnings forecasts. Revenue from net oil sales slightly decreased by 2% to $622 million, while adjusted EBITDA dropped by 8% to $367 million, indicating some operational challenges. Gran Tierra has set an ambitious production guidance for 2025, targeting between 47,000 to 53,000 barrels of oil equivalent per day, with a quarter of its capital program allocated to exploration.
The company plans to drill multiple wells across its regions, including Canada, Ecuador, and Colombia, as part of its strategic growth plan. Analyst firms such as Bank of America and RBC Capital Markets have shown interest in the company's operational updates, particularly regarding cost management and exploration activities. Gran Tierra also aims to reduce its gross debt to $600 million by the end of 2026, with a further reduction target for 2027. The company has been actively repurchasing shares, with 6.7% of outstanding shares bought back, signaling confidence in its long-term value creation strategy.
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