Headwater Exploration (TSE:HWX) PT Set at C$9.00 by CIBC

Headwater Exploration (TSE:HWXGet Free Report) received a C$9.00 price objective from equities researchers at CIBC in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective indicates a potential upside of 31.00% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. National Bankshares cut their price objective on shares of Headwater Exploration from C$9.50 to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Atb Cap Markets raised shares of Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Raymond James raised shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$9.54.

View Our Latest Analysis on HWX

Headwater Exploration Price Performance

Shares of TSE HWX traded up C$0.03 on Thursday, hitting C$6.87. The company’s stock had a trading volume of 352,719 shares, compared to its average volume of 611,584. The stock has a 50 day moving average of C$6.85 and a 200-day moving average of C$6.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.53 and a quick ratio of 2.07. The company has a market capitalization of C$1.63 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. Headwater Exploration has a 12-month low of C$5.96 and a 12-month high of C$8.57.

Insider Activity

In other news, Director Phillip R. Knoll sold 5,400 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of C$6.97, for a total value of C$37,638.00. Insiders own 5.08% of the company’s stock.

Headwater Exploration Company Profile

(Get Free Report)

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.

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