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The Parkmead ( (GB:PMG) ) has issued an update.
The Parkmead Group reported a transformative year with a 49% increase in profit after tax to £7.35 million and a 39% rise in cash reserves. The company strategically divested its North Sea oil licenses, creating near-term value of approximately £30 million and potential future payments of up to £120 million. Parkmead is expanding its renewable energy projects, notably the Glenskinnan Renewable Energy Park, and continues to grow its gas asset base in the Netherlands. The company’s strong financial performance and strategic shifts position it well for future growth, with a focus on renewable energy and natural gas.
The most recent analyst rating on (GB:PMG) stock is a Hold with a £17.50 price target. To see the full list of analyst forecasts on The Parkmead stock, see the GB:PMG Stock Forecast page.
Spark’s Take on GB:PMG Stock
According to Spark, TipRanks’ AI Analyst, GB:PMG is a Neutral.
The overall stock score is bolstered by strong technical analysis and positive corporate events, indicating a strategic shift towards renewables. Financial performance shows areas needing improvement, particularly in revenue and cash flow. Valuation metrics suggest the stock is currently undervalued.
To see Spark’s full report on GB:PMG stock, click here.
More about The Parkmead
The Parkmead Group is an independent energy company focusing on growth through gas and renewable energy projects. It operates in the energy sector with a market focus on both traditional gas production and renewable energy development, particularly in the UK and the Netherlands.
Average Trading Volume: 116,029
Technical Sentiment Signal: Sell
Current Market Cap: £14.31M
Find detailed analytics on PMG stock on TipRanks’ Stock Analysis page.