Shares of Newalta Co. (TSE:NAL) were up 1.4% during mid-day trading on Wednesday . The stock traded as high as C$0.71 and last traded at C$0.70. Approximately 188,059 shares traded hands during trading, an increase of 12% from the average daily volume of 168,043 shares. The stock had previously closed at C$0.69.
Several analysts have recently issued reports on NAL shares. National Bank Financial decreased their price target on Newalta from C$2.00 to C$1.75 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Scotiabank decreased their price target on Newalta from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a research note on Friday, August 4th. Canaccord Genuity decreased their price target on Newalta from C$3.00 to C$1.90 and set a “speculative buy” rating for the company in a research note on Tuesday, August 8th. Finally, TD Securities reiterated a “hold” rating and set a C$1.00 price target on shares of Newalta in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Newalta presently has a consensus rating of “Hold” and an average target price of C$1.51.
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Newalta Company Profile
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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