North American Energy Partners Inc.(USA)’s (NOA) Buy Rating Reaffirmed at Canaccord Genuity

North American Energy Partners Inc.(USA) (NYSE:NOA) (TSE:NOA)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research report issued on Tuesday, January 16th. They currently have a $9.00 target price on the oil and gas company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 111.76% from the stock’s current price.

Separately, Zacks Investment Research downgraded North American Energy Partners Inc.(USA) from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd.

Shares of North American Energy Partners Inc (NYSE:NOA) traded down $0.15 during midday trading on Tuesday, hitting $4.25. The stock had a trading volume of 13,949 shares, compared to its average volume of 34,159. North American Energy Partners Inc has a 52 week low of $3.70 and a 52 week high of $5.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market capitalization of $107.67, a P/E ratio of 141.67 and a beta of 0.56.

In other North American Energy Partners Inc.(USA) news, major shareholder Cannell Capital Llc purchased 26,301 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $4.26 per share, for a total transaction of $112,042.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signia Capital Management LLC raised its stake in North American Energy Partners Inc.(USA) by 7.8% during the fourth quarter. Signia Capital Management LLC now owns 658,542 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 47,532 shares in the last quarter. Intact Investment Management Inc. grew its holdings in shares of North American Energy Partners Inc.(USA) by 22.7% during the third quarter. Intact Investment Management Inc. now owns 514,567 shares of the oil and gas company’s stock valued at $2,727,000 after purchasing an additional 95,267 shares during the last quarter. AJO LP grew its holdings in shares of North American Energy Partners Inc.(USA) by 118.6% during the second quarter. AJO LP now owns 300,214 shares of the oil and gas company’s stock valued at $1,321,000 after purchasing an additional 162,891 shares during the last quarter. Royce & Associates LP grew its holdings in shares of North American Energy Partners Inc.(USA) by 201.4% during the fourth quarter. Royce & Associates LP now owns 150,698 shares of the oil and gas company’s stock valued at $746,000 after purchasing an additional 100,698 shares during the last quarter. Finally, B. Riley Financial Inc. bought a new position in shares of North American Energy Partners Inc.(USA) during the fourth quarter valued at approximately $466,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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North American Energy Partners Inc.(USA) Company Profile

North American Energy Partners Inc provides a range of mining and heavy construction services to customers in the resource development and industrial construction sectors within Western Canada. The Company’s operating divisions include Heavy Construction and Mining; Industrial, and Tailings & Environmental Construction.

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