TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Amplitude Energy ( (AU:AEL) ) has shared an update.
Amplitude Energy Limited has successfully completed its Retail Entitlement Offer, raising approximately $19 million as part of a fully underwritten $150 million Equity Raising. The proceeds will support the expansion of the East Coast Supply Project and fund other growth opportunities, including the potential restart of the Patricia Baleen project. This financial move positions Amplitude Energy to accelerate growth and maximize value from its existing infrastructure, enhancing its market position and operational capabilities.
The most recent analyst rating on (AU:AEL) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.
More about Amplitude Energy
Amplitude Energy Limited is an Australian gas production company focused on supplying the Southeast domestic gas market. The company owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, near Australia’s largest gas demand centers. It also has non-operated oil production in the Cooper Basin and holds a portfolio of long-term customer gas supply contracts while retaining exposure to the tight Australian East Coast spot gas markets.
YTD Price Performance: 16.92%
Average Trading Volume: 5,881,456
Technical Sentiment Signal: Buy
Current Market Cap: A$751.4M
See more insights into AEL stock on TipRanks’ Stock Analysis page.