Headwater Exploration (TSE:HWX) Rating Increased to Outperform at Raymond James

Headwater Exploration (TSE:HWX) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday,BayStreet.CA reports.

A number of other equities research analysts also recently commented on the company. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a research report on Tuesday, December 3rd. 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 research report on Thursday, December 19th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$9.38.

Headwater Exploration Price Performance

Shares of Headwater Exploration stock traded up C$0.33 on Tuesday, hitting C$7.19. 935,245 shares of the company traded hands, compared to its average volume of 608,199. 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 business has a 50-day simple moving average of C$6.77 and a 200 day simple moving average of C$6.83. Headwater Exploration has a 52 week low of C$5.88 and a 52 week high of C$8.57. The stock has a market capitalization of C$1.71 billion, a P/E ratio of 9.22, a price-to-earnings-growth 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.