The stock of Northern Blizzard Resources Inc (TSE:NBZ) gapped up by $0.1 today and has $4.02 target or 7.00% above today’s $3.76 share price. The 8 months technical chart setup indicates low risk for the $460.63 million company. The gap was reported on Nov, 30 by Barchart.com. If the $4.02 price target is reached, the company will be worth $32.24 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 225,457 shares traded hands or 39.97% up from the average. Northern Blizzard Resources Inc (TSE:NBZ) has declined 17.46% since April 26, 2016 and is downtrending. It has underperformed by 22.69% the S&P500.
Northern Blizzard Resources Inc (TSE:NBZ) Ratings Coverage
Out of 6 analysts covering Northern Blizzard Resources (TSE:NBZ), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $13 is the highest target while $3.75 is the lowest. The $4.50 average target is 19.68% above today’s ($3.76) stock price. Northern Blizzard Resources has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by Scotia Capital given on Thursday, June 9. The rating was maintained by BMO Capital Markets on Tuesday, November 29 with “Underperform”. The rating was initiated by IBC with “Sector Perform” on Wednesday, June 15. The firm earned “Sector Perform” rating on Tuesday, November 29 by Scotia Capital. BMO Capital Markets maintained the stock with “Underperform” rating in Friday, September 9 report. The rating was maintained by TD Securities on Tuesday, November 29 with “Buy”. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, December 22. On Tuesday, October 6 the stock rating was initiated by GMP Securities with “Buy”.
More recent Northern Blizzard Resources Inc (TSE:NBZ) news were published by: Reuters.com which released: “BRIEF-Northern Blizzard Resources Inc announces $58 million non-core asset…” on November 28, 2016. Also Reuters.com published the news titled: “BRIEF-Northern Blizzard Resources Inc. announces third quarter 2016 result…” on November 14, 2016. Moodys.com‘s news article titled: “Moody’s downgrades Northern Blizzard’s CFR to B2; outlook negative” with publication date: February 03, 2016 was also an interesting one.
Northern Blizzard Resources Inc. is a Canada crude oil production and development firm focused on maximizing oil recovery from its heavy oil resource base. The company has a market cap of $460.63 million. The Firm is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. It currently has negative earnings. The Company’s properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac.
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