Headwater Exploration (TSE:HWX) Hits New 12-Month Low – Should You Sell?

Headwater Exploration Inc. (TSE:HWX) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$5.40 and last traded at C$5.42, with a volume of 238438 shares trading hands. The stock had previously closed at C$5.97.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. 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 note on Thursday, December 19th. Desjardins lowered Headwater Exploration from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$8.25 to C$7.25 in a research report on Wednesday, March 19th. CIBC set a C$9.00 target price on Headwater Exploration and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Raymond James upgraded shares of Headwater Exploration from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$9.21.

Headwater Exploration Stock Down 11.4 %

The company’s fifty day simple moving average is C$6.48 and its 200-day simple moving average is C$6.67. 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$1.25 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.83 and a beta of 1.55.

Insider Activity

In other news, Director Phillip R. Knoll sold 5,400 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of C$6.97, for a total transaction 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.