Headwater Exploration (TSE:HWX) Trading 0.7% Higher – Time to Buy?

Headwater Exploration Inc. (TSE:HWX)’s stock price rose 0.7% on Friday . The company traded as high as C$6.11 and last traded at C$6.03. Approximately 410,390 shares traded hands during trading, a decline of 46% from the average daily volume of 759,464 shares. The stock had previously closed at C$5.99.

Analyst Ratings Changes

HWX has been the subject of several analyst reports. CIBC reduced their target price on Headwater Exploration from C$9.00 to C$8.50 in a report on Thursday, April 10th. Desjardins increased their price target on shares of Headwater Exploration from C$6.75 to C$7.00 and gave the stock a “hold” rating in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$8.17.

Headwater Exploration Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.54 and a quick ratio of 2.07. The firm has a market capitalization of C$1.43 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55. The business has a 50 day moving average price of C$5.90 and a 200 day moving average price of C$6.48.

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.