Reported 2 days ago
BMO Capital has downgraded Greenfire Resources Ltd. (NYSE:GFR) from Outperform to Market Perform, keeping the price target at C$8. Analyst Tariq Saad expressed concerns that the company will significantly overspend its cash flow in 2026, increasing its leverage. Despite a production setback due to a steam generator failure, Greenfire produced 15,748 barrels of bitumen daily and generated $17.7 million in operating cash flow during its fiscal second quarter. The company is also working to reduce sulphur dioxide emissions and plans to install new sulphur removal facilities by Q4 2025.
Source: YAHOO