Headwater Exploration Inc. (TSE:HWX) Given Consensus Rating of "Buy" by Brokerages

Headwater Exploration Inc. (TSE:HWX - Get Free Report) has been assigned an average recommendation of "Buy" from the six brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$9.54.

Several equities research analysts recently weighed in on HWX shares. Raymond James raised shares of Headwater Exploration from a "market perform" rating to an "outperform" rating in a report on Tuesday, January 7th. CIBC set a C$9.00 price target on shares of Headwater Exploration and gave the company an "outperform" rating in a report on Thursday, January 30th. Atb Cap Markets raised shares of Headwater Exploration to a "strong-buy" rating in a report on Tuesday, December 3rd. Finally, National Bankshares cut their price target on shares of Headwater Exploration from C$9.50 to C$9.00 and set an "outperform" rating for the company in a report on Thursday, December 19th.

Headwater Exploration Price Performance

HWX stock traded down C$0.06 during trading on Friday, hitting C$6.27. The company had a trading volume of 610,136 shares, compared to its average volume of 723,603. The firm has a market capitalization of C$1.49 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 0.83 and a beta of 1.55. The business has a 50 day moving average of C$6.68 and a 200 day moving average of C$6.69. Headwater Exploration has a fifty-two week low of C$5.70 and a fifty-two week high of C$8.57. The company has a current ratio of 1.54, a quick ratio of 2.07 and a debt-to-equity ratio of 0.12.

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Insiders Place Their Bets

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

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.