C.K. Cooper Downgrades GMX Resources

C.K. Cooper downgraded its GMX Resources (NYSE: GMXR) rating from Buy to Hold in a research report published today.

In the report, C.K. Cooper states, "We are reducing our rating for GMXR shares from BUY to HOLD to reflect a lower valuation for Haynesville PUD reserves and the tight liquidity constraints the firm faces as it initiates a drilling program on recently acquired undeveloped leases in the Bakken and Niobrara plays."

Shares of GMX Resources were trading at $3.28 at the time of posting, down 10.14% from Thursday's market close.