Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 52-Week High – Here’s Why

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) hit a new 52-week high on Tuesday . The stock traded as high as $7.75 and last traded at $7.72, with a volume of 81485 shares traded. The stock had previously closed at $7.65.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BNP Paribas raised shares of Norsk Hydro ASA to an “outperform” rating in a research note on Friday, December 5th. BNP Paribas Exane upgraded shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research report on Friday, December 5th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. Wall Street Zen cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Barclays cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

The company has a market cap of $15.27 billion, a PE ratio of 14.85, a PEG ratio of 0.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.25 and a current ratio of 1.91. The firm’s 50 day moving average is $7.14 and its 200-day moving average is $6.58.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Norsk Hydro ASA had a return on equity of 10.20% and a net margin of 4.96%.The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $47.19 billion. On average, research analysts anticipate that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.