North American Energy Partners (NOA) Shares Up 5%

North American Energy Partners Inc. (TSE:NOA) (NYSE:NOA)’s share price shot up 5% during trading on Monday . The company traded as high as C$6.50 and last traded at C$6.35. 36,472 shares changed hands during trading, an increase of 86% from the average session volume of 19,583 shares. The stock had previously closed at C$6.05.

A number of research firms have recently commented on NOA. National Bank Financial raised their price objective on shares of North American Energy Partners from C$11.50 to C$12.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Raymond James Financial raised their price objective on shares of North American Energy Partners from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th.

The firm has a market capitalization of $167.73, a price-to-earnings ratio of 47.07 and a beta of 0.25.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Tuesday, March 6th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, March 5th. North American Energy Partners’s payout ratio is 57.14%.

In other news, insider North American Energy Partners bought 177,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was acquired at an average price of C$6.29 per share, for a total transaction of C$1,113,330.00. Also, Director Bryan Daniel Pinney bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were purchased at an average price of C$4.25 per share, with a total value of C$42,500.00.

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About North American Energy Partners

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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