Newalta (NAL) Shares Down 10.9%
Newalta Co. (TSE:NAL)’s share price traded down 10.9% during trading on Thursday . The company traded as low as C$1.27 and last traded at C$1.42. 328,539 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 333,279 shares. The stock had previously closed at C$1.28.
A number of equities analysts recently commented on the company. TD Securities restated a “hold” rating and issued a C$1.00 price objective on shares of Newalta in a report on Tuesday, October 3rd. National Bank Financial dropped their price objective on 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Newalta has a consensus rating of “Hold” and a consensus price target of C$1.51.
The company has a market capitalization of $113.27, a PE ratio of -1.02 and a beta of 0.62.
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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