Headwater Exploration (TSE:HWX) Hits New 1-Year Low Following Analyst Downgrade

Headwater Exploration Inc. (TSE:HWX)’s stock price reached a new 52-week low during mid-day trading on Thursday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$4.75 and last traded at C$5.59, with a volume of 1840799 shares traded. The stock had previously closed at C$4.91.

A number of other research firms have also commented on HWX. National Bankshares reduced their price target on shares of 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. Desjardins cut Headwater Exploration from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$8.25 to C$7.25 in a report on Wednesday, March 19th. Finally, Raymond James raised Headwater Exploration from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Headwater Exploration presently has an average rating of “Buy” and a consensus price target of C$8.69.

Insiders Place Their Bets

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

Headwater Exploration Trading Up 2.8 %

The business has a 50-day moving average of C$6.23 and a 200-day moving average of C$6.60. 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 firm has a market cap of C$1.29 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.83 and a beta of 1.55.

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.