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Sonoro Energy ( (TSE:SNV) ) has shared an update.
Sonoro Energy Ltd. has appointed Texas-based energy executive Robert Bensh as its new President and Chief Executive Officer, with an expected concurrent appointment to the board of directors subject to TSX Venture Exchange approval, replacing outgoing CEO and director Greg Renwick, who will remain as a consultant to support the company’s Middle East projects. As part of the leadership transition, Sonoro will grant Bensh 500,000 common shares as a signing bonus and 1.5 million stock options, while issuing an additional 4.3 million options to directors, management, consultants and employees, a move that signals a strategic effort to strengthen management depth and align incentives as the company advances its Middle Eastern oil and gas developments, pending regulatory approval.
The most recent analyst rating on (TSE:SNV) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Sonoro Energy stock, see the TSE:SNV Stock Forecast page.
Spark’s Take on TSE:SNV Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNV is a Neutral.
The score is held down primarily by weak and volatile operating performance (negative revenue and ongoing losses) and a constrained balance sheet due to negative equity. Positive TTM operating and free cash flow provides some support, but technical indicators remain weak and valuation is not attractive given negative earnings and no dividend data.
To see Spark’s full report on TSE:SNV stock, click here.
More about Sonoro Energy
Sonoro Energy Ltd. is a Calgary-based oil and gas company focused on upstream exploration and development projects, with ongoing activities in the Middle East, including Bahrain and Iraq. The company operates within the broader energy value chain and targets opportunities that leverage expertise in crude oil, refined products, LNG and related infrastructure in international markets.
Average Trading Volume: 85,548
Technical Sentiment Signal: Sell
Current Market Cap: C$9.6M
Learn more about SNV stock on TipRanks’ Stock Analysis page.