Market Rating: Scotia Capital Analyst Reaffirmed $4.75 Price Target on Northern Blizzard Resources (TSE:NBZ) stock, While Reiterating “Sector Perform” Rating

November 29, 2016 - By Winifred Garcia

Northern Blizzard Resources (TSE:NBZ) Rating

Toronto: In an analyst note published on Tuesday morning, Scotia Capital reconfirmed their “Sector Perform” rating on shares of Northern Blizzard Resources (TSE:NBZ). They currently have a $4.75 target price per share on the company. Scotia Capital’s target means a potential upside of 38.48% from the company’s last stock close.

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 $4 is the lowest. The $4.88 average target is 41.45% above today’s ($3.45) stock price. Northern Blizzard Resources has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Tuesday, December 22 by RBC Capital Markets. The firm has “Buy” rating by GMP Securities given on Tuesday, October 6. The rating was initiated by IBC with “Sector Perform” on Wednesday, June 15. On Friday, September 9 the stock rating was maintained by BMO Capital Markets with “Underperform”. Scotia Capital maintained Northern Blizzard Resources Inc (TSE:NBZ) on Thursday, June 9 with “Sector Perform” rating.

The stock increased 0.88% or $0.03 on November 29, hitting $3.45. About 174,094 shares traded hands or 10.06% up from the average. Northern Blizzard Resources Inc (TSE:NBZ) has declined 17.99% since April 25, 2016 and is downtrending. It has underperformed by 23.25% the S&P500.

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 $398.03 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.

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.

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