Headwater Exploration (TSE:HWX) Given a C$9.00 Price Target by CIBC Analysts

Headwater Exploration (TSE:HWX - Get Free Report) received a C$9.00 target price from investment analysts at CIBC in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's price objective would suggest a potential upside of 36.36% from the stock's previous close.

A number of other research firms have also commented on HWX. Raymond James upgraded shares of Headwater Exploration from a "market perform" rating to an "outperform" rating in a research report on Tuesday, January 7th. Atb Cap Markets raised Headwater Exploration to a "strong-buy" rating in a report on Tuesday, December 3rd. Finally, National Bankshares dropped their price target on 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$9.54.

Headwater Exploration Price Performance

Shares of TSE HWX traded down C$0.09 during midday trading on Thursday, reaching C$6.60. 993,151 shares of the company traded hands, compared to its average volume of 656,360. The firm has a market cap of C$1.57 billion, a PE ratio of 8.46, a PEG ratio of 0.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 1.53. The stock's 50-day simple moving average is C$6.83 and its 200-day simple moving average is C$6.81. Headwater Exploration has a 12 month low of C$5.96 and a 12 month high of C$8.57.

Insider Transactions at Headwater Exploration

In other Headwater Exploration news, Director Phillip R. Knoll sold 5,400 shares of the company's 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. 5.08% of the stock is currently owned by corporate insiders.

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.