Headwater Exploration (TSE:HWX) Hits New 52-Week Low – What’s Next?

Headwater Exploration Inc. (TSE:HWX) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$5.70 and last traded at C$5.74, with a volume of 221332 shares changing hands. The stock had previously closed at C$6.04.

Analysts Set New Price Targets

Several research firms have recently commented on HWX. CIBC set a C$9.00 target price on shares of Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, January 30th. National Bankshares dropped their target price 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. Raymond James raised Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. Finally, Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research note on Tuesday, December 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$9.54.

Headwater Exploration Trading Down 3.6 %

The company has a market cap of C$1.38 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The business’s 50-day simple moving average is C$6.76 and its 200-day simple moving average is C$6.72.

Insider Activity at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the business’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. 5.08% of the stock is owned by corporate insiders.

Headwater Exploration Company Profile

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.