Newalta Co. (NAL) Price Target Lowered to C$1.15 at National Bank Financial

Newalta Co. (TSE:NAL) had its price objective cut by National Bank Financial from C$1.75 to C$1.15 in a research report released on Thursday. They currently have a sector perform rating on the stock.

Several other equities research analysts have also recently weighed in on NAL. TD Securities reiterated a hold rating and set a C$1.00 price target on shares of Newalta in a research report on Tuesday, October 3rd. Scotiabank decreased their price target on Newalta from C$2.25 to C$2.00 and set a sector perform rating on the stock in a research report on Friday, August 4th. Finally, Canaccord Genuity decreased their price target on Newalta from C$3.00 to C$1.90 and set a speculative buy rating on the stock in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Newalta currently has an average rating of Hold and a consensus target price of C$1.51.

Shares of Newalta (NAL) traded down C$0.03 during trading on Thursday, reaching C$0.82. The company had a trading volume of 360,800 shares.

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In related news, Director Gordon E. Pridham purchased 50,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of C$1.12 per share, for a total transaction of C$56,000.00.

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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