Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 1-Year High – Should You Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $8.6225 and last traded at $8.50, with a volume of 1049071 shares. The stock had previously closed at $8.30.

Analysts Set New Price Targets

Several brokerages recently issued reports on NHYDY. Danske upgraded Norsk Hydro ASA to a “hold” rating in a research note on Monday, October 27th. Citigroup reaffirmed a “neutral” rating on shares of Norsk Hydro ASA in a research report on Friday, September 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of Norsk Hydro ASA in a report on Friday, November 21st. Wall Street Zen downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Finally, Barclays cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Norsk Hydro ASA currently has an average rating of “Moderate Buy”.

Norsk Hydro ASA Stock Up 3.5%

The firm’s 50 day simple moving average is $7.63 and its 200 day simple moving average is $6.94. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.25 and a beta of 1.15. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Norsk Hydro ASA had a return on equity of 10.20% and a net margin of 4.96%.The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $47.19 billion. Sell-side analysts anticipate that Norsk Hydro ASA will post 0.72 EPS for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.