Canaccord Genuity Reaffirms “Buy” Rating for North American Energy Partners, Inc. (NOA)

Canaccord Genuity reaffirmed their buy rating on shares of North American Energy Partners, Inc. (NYSE:NOA) (TSE:NOA) in a research report sent to investors on Tuesday. They currently have a $9.00 price target on the stock.

Several other analysts have also recently issued reports on NOA. Zacks Investment Research raised shares of North American Energy Partners from a hold rating to a buy rating and set a $3.25 price target on the stock in a research report on Thursday, November 3rd. BMO Capital Markets raised shares of North American Energy Partners from a market perform rating to an outperform rating in a report on Thursday, November 17th. Finally, TheStreet raised shares of North American Energy Partners from a d+ rating to a c- rating in a report on Monday, January 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $7.38.

North American Energy Partners (NYSE:NOA) traded down 2.70% during mid-day trading on Tuesday, reaching $5.40. 102,043 shares of the company’s stock traded hands. The stock’s 50 day moving average is $4.66 and its 200-day moving average is $3.39. North American Energy Partners has a 52 week low of $1.57 and a 52 week high of $5.65. The stock’s market capitalization is $155.03 million.

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A number of hedge funds have recently modified their holdings of NOA. O Shaughnessy Asset Management LLC boosted its stake in shares of North American Energy Partners by 151.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 33,300 shares of the company’s stock valued at $128,000 after buying an additional 20,072 shares during the period. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of North American Energy Partners during the third quarter valued at $176,000. Clear Harbor Asset Management LLC boosted its stake in shares of North American Energy Partners by 27.6% in the third quarter. Clear Harbor Asset Management LLC now owns 188,197 shares of the company’s stock valued at $470,000 after buying an additional 40,700 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of North American Energy Partners during the second quarter valued at $649,000. Finally, K.J. Harrison & Partners Inc boosted its stake 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 valued at $874,000 after buying an additional 167,200 shares during the period. 48.19% of the stock is currently owned by hedge funds and other institutional investors.

North American Energy Partners Company Profile

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.

5 Day Chart for NYSE:NOA

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