Headwater Exploration (TSE:HWX) Given a C$9.00 Price Target at CIBC

Headwater Exploration (TSE:HWX) has been given a C$9.00 price target by equities researchers at CIBC in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 34.53% from the stock’s current price.

HWX has been the topic of several other reports. National Bankshares dropped their price target on Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. Finally, Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$9.54.

Headwater Exploration Trading Down 3.7 %

Headwater Exploration stock opened at C$6.69 on Thursday. Headwater Exploration has a 52 week low of C$5.96 and a 52 week high of C$8.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The firm has a market capitalization of C$1.59 billion, a PE ratio of 8.58, a PEG ratio of 0.83 and a beta of 1.55. The business’s 50-day simple moving average is C$6.84 and its 200-day simple moving average is C$6.81.

Insider Transactions at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction of C$37,638.00. 5.08% of the stock is owned by insiders.

About Headwater Exploration

Headwater Exploration Inc engages in the exploration, development, and production of petroleum and natural gas in Canada. It holds interest in the Marten Hills area located in Alberta, and McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc and changed its name to Headwater Exploration Inc in March 2020.