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

Headwater Exploration (TSE:HWX) has been assigned a C$9.00 price objective by stock analysts at CIBC in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 24.83% from the company’s previous close.

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

Headwater Exploration Price Performance

Shares of HWX stock traded up C$0.17 during trading hours on Monday, hitting C$7.21. 182,191 shares of the company’s stock were exchanged, compared to its average volume of 687,192. Headwater Exploration has a 12-month low of C$5.96 and a 12-month high of C$8.57. The company has a market capitalization of C$1.71 billion, a PE ratio of 9.24, a PEG ratio of 0.83 and a beta of 1.55. The business’s 50 day simple moving average is C$6.83 and its 200-day simple moving average is C$6.83. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

Insider Transactions at Headwater Exploration

In related news, Director Phillip R. Knoll sold 5,400 shares of the 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. 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.