Newalta Co. (NAL) Stock Rating Reaffirmed by TD Securities
Newalta Co. (TSE:NAL)‘s stock had its “hold” rating reiterated by equities research analysts at TD Securities in a research note issued on Tuesday. They currently have a C$1.00 price target on the stock. TD Securities’ price target points to a potential upside of 13.64% from the stock’s current price.
Several other analysts have also recently commented on NAL. Canaccord Genuity decreased their price target on shares of Newalta from C$3.00 to C$1.90 and set a “speculative buy” rating for the company in a report on Tuesday, August 8th. National Bank Financial lowered their price objective on shares of Newalta from C$2.00 to C$1.75 and set a “sector perform” rating on the stock in a research report on Friday, August 4th. Finally, Scotiabank dropped their price objective on shares of Newalta from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Newalta has an average rating of “Hold” and an average price target of C$1.66.
Shares of Newalta (TSE NAL) traded up 1.14% on Tuesday, reaching $0.89. The company had a trading volume of 83,602 shares. The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.54. The stock’s market capitalization is $78.45 million. Newalta has a 52-week low of $0.66 and a 52-week high of $2.63.
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In other news, Director Gordon E. Pridham bought 50,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of C$1.12 per share, with a total value of C$56,000.00.
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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