National Bankshares Cuts Headwater Exploration (TSE:HWX) Price Target to C$9.00

Headwater Exploration (TSE:HWX) had its price objective reduced by analysts at National Bankshares from C$9.50 to C$9.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ target price indicates a potential upside of 44.00% from the stock’s previous close.

A number of other brokerages have also recently weighed in on HWX. Raymond James raised Headwater Exploration to a “hold” rating in a research note on Thursday, October 17th. Atb Cap Markets upgraded shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Headwater Exploration presently has a consensus rating of “Buy” and an average price target of C$9.38.

Headwater Exploration Stock Performance

HWX opened at C$6.25 on Thursday. The company has a quick ratio of 2.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of C$1.49 billion, a PE ratio of 8.01, a P/E/G ratio of 0.83 and a beta of 1.55. The business has a fifty day simple moving average of C$6.77 and a 200-day simple moving average of C$6.87. Headwater Exploration has a fifty-two week low of C$5.88 and a fifty-two week high of C$8.57.

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.