Newalta Co. (NAL) Given Average Recommendation of “Hold” by Brokerages

Shares of Newalta Co. (TSE:NAL) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$2.90.

A number of analysts have weighed in on the company. AltaCorp Capital cut Newalta from an “outperform” rating to a “sector perform” rating in a research note on Monday, January 9th. National Bank Financial raised their price target on Newalta from C$2.00 to C$2.50 in a report on Friday, January 20th. Finally, Scotiabank reissued an “outperform” rating and set a C$4.00 price target on shares of Newalta in a report on Friday, February 24th.

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Newalta (TSE:NAL) opened at 1.84 on Friday. The firm has a 50-day moving average price of $2.11 and a 200-day moving average price of $2.21. Newalta has a 12-month low of $1.45 and a 12-month high of $2.90. The company’s market cap is $162.19 million.

About Newalta

Newalta Corporation is a Canada-based provider of engineered environmental solutions to the oil and gas industry. The Company’s segments include Heavy Oil and Oilfield. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.

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