NEW YORK ( TheStreet) -- Gran Tierra Energy (AMEX: GTE) hit a new 52-week high Tuesday as it traded at $9.36 compared with its previous 52-Week high of $9.34. Gran Tierra Energy is changing hands at $9.33 with 10,393 shares traded as of 9:31 a.m. ET. Average volume has been 801,900 shares over the past 30 days.

Gran Tierra Energy has a market cap of $2.2 billion and is part of the basic materials sector and energy industry. Shares are up 15.3% year to date as of the close of trading on Monday.

Gran Tierra Energy Inc., an independent energy company, engages in the exploration, development, and production of oil and gas in Colombia, Argentina, and Peru. As of December 31, 2009, it had estimated proved reserves of 22.1 million barrels of oil and 1.9 billion cubic feet of gas. The company has a P/E ratio of 65.1, above the average energy industry P/E ratio of 41.5 and above the S&P 500 P/E ratio of 21.8.

TheStreet Ratings rates Gran Tierra Energy as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Gran Tierra Energy Ratings Report.

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