Shares of Newalta Co. (TSE:NAL) rose 3.7% during trading on Thursday . The company traded as high as C$0.85 and last traded at C$0.84. Approximately 118,353 shares changed hands during trading, a decline of 30% from the average daily volume of 168,462 shares. The stock had previously closed at C$0.81.
NAL has been the topic of a number of research reports. TD Securities restated a “hold” rating and set a C$1.00 target price on shares of Newalta in a report on Tuesday, October 3rd. National Bank Financial dropped their target price on shares of Newalta from C$1.75 to C$1.15 and set a “sector perform” rating on the stock in a report on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of C$1.51.
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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