North American Energy Partners Inc. (NOA) Upgraded to “Outperform” by BMO Capital Markets
NOA has been the topic of several other research reports. TheStreet lowered North American Energy Partners from a hold rating to a sell rating in a report on Monday, August 22nd. Zacks Investment Research upgraded shares of North American Energy Partners from a hold rating to a buy rating and set a $3.25 price objective for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity initiated coverage on shares of North American Energy Partners in a research note on Monday, October 31st. They set a buy rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $3.25.
Shares of North American Energy Partners (NYSE:NOA) traded up 3.12% during mid-day trading on Thursday, reaching $3.30. The company’s stock had a trading volume of 23,252 shares. The stock’s market capitalization is $94.74 million. The company’s 50-day moving average is $2.98 and its 200-day moving average is $2.73. North American Energy Partners has a 52 week low of $1.39 and a 52 week high of $3.35.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Wednesday, November 30th will be issued a $0.015 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.06 dividend on an annualized basis and a yield of 1.88%. North American Energy Partners’s dividend payout ratio (DPR) is presently -200.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of North American Energy Partners during the second quarter worth about $1,582,000. Hillsdale Investment Management Inc. bought a new position in shares of North American Energy Partners during the second quarter worth about $649,000. Sprott Inc. bought a new position in shares of North American Energy Partners during the second quarter worth about $564,000. K.J. Harrison & Partners Inc boosted its position in shares of North American Energy Partners by 92.7% in the third quarter. K.J. Harrison & Partners Inc now owns 347,500 shares of the company’s stock worth $874,000 after buying an additional 167,200 shares during the period. Finally, Lorber David A bought a new position in shares of North American Energy Partners during the first quarter worth about $179,000. 50.94% of the stock is owned by institutional investors.
About North American Energy Partners
North American Energy Partners Inc provides a range of mining and heavy construction services. The Company offers its services to customers in the resource development and industrial construction sectors, within Western Canada. The Company provides construction and operations support services through various stages of an oil sands project’s lifecycle.
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