Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 52-Week High – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.17 and last traded at $10.15, with a volume of 38193 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NHYDY. The Goldman Sachs Group cut shares of Norsk Hydro ASA from a “buy” rating to a “sell” rating in a research report on Monday, February 16th. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Citigroup upgraded shares of Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a report on Monday, February 23rd. BNP Paribas Exane upgraded Norsk Hydro ASA to an “outperform” rating in a research note on Friday, December 5th. Finally, Royal Bank Of Canada downgraded Norsk Hydro ASA from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 16th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Trading Up 4.9%

The stock’s 50 day simple moving average is $8.88 and its two-hundred day simple moving average is $7.68. The stock has a market capitalization of $20.14 billion, a PE ratio of 32.84, a PEG ratio of 1.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings data on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Norsk Hydro ASA had a return on equity of 9.44% and a net margin of 3.06%.The business had revenue of $4.98 billion during the quarter, compared to analyst estimates of $4.82 billion. On average, sell-side analysts expect that Norsk Hydro ASA will post 0.72 EPS for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.