Raymond James Upgrades Headwater Exploration (TSE:HWX) to “Outperform”

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

HWX has been the subject of a number of other research reports. National Bankshares dropped their price objective 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. Atb Cap Markets upgraded Headwater Exploration to a “strong-buy” rating in a report on Tuesday, December 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Headwater Exploration presently has a consensus rating of “Buy” and an average price target of C$9.38.

Headwater Exploration Stock Up 4.8 %

HWX stock traded up C$0.33 during trading on Tuesday, hitting C$7.19. 935,245 shares of the company’s stock were exchanged, compared to its average volume of 608,199. The stock has a market capitalization of C$1.71 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.83 and a beta of 1.55. The company has a current ratio of 1.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. Headwater Exploration has a 52-week low of C$5.88 and a 52-week high of C$8.57. The business has a 50-day moving average price of C$6.77 and a two-hundred day moving average price of C$6.83.

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.