Newalta Co. (NAL) Given Average Rating of “Hold” by Brokerages
Shares of Newalta Co. (TSE:NAL) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$3.25.
A number of research analysts recently commented on NAL shares. AltaCorp Capital upgraded Newalta from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 11th. Scotiabank restated a “sector perform” rating and issued a C$2.75 target price on shares of Newalta in a research note on Wednesday, June 22nd. GMP Securities lowered Newalta from a “hold” rating to a “reduce” rating in a research note on Friday, August 5th. TD Securities restated a “hold” rating and issued a C$2.50 target price on shares of Newalta in a research note on Thursday, August 4th. Finally, Canaccord Genuity upped their target price on Newalta to C$3.50 and gave the company a “speculative buy” rating in a research note on Saturday, August 6th.
Shares of Newalta (TSE:NAL) traded up 4.78% during trading on Wednesday, hitting $2.41. 230,807 shares of the stock were exchanged. The stock’s market cap is $212.44 million. Newalta has a 12-month low of $1.45 and a 12-month high of $8.48. The stock has a 50-day moving average of $2.38 and a 200 day moving average of $2.16.
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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