Retail throwing in the towelThere have been lots of small, panic trades over the past two and a half months. Sellers hitting the bid over and over again in short time spans, a typical finding of non-professional retail-type panic trading. Hopefully these nervous investors have been washed out now and can find peace of mind holding cash rather than shares.
HWX remains debt free and is profitable down to $40 WTI - highly profitable at $70 WTI. The company is anticipating additional high production growth in 2024. In addition, shareholders are receiving a 7% dividend at today's share price. Wow. Try to find this kind of opportunity and return profile in any other name on the TSX.
Watch for a share price jump in the next few days with institutional buyers snapping up a too-good-to-be-true valuation. Also, the December dividend pays out Jan 15 which has been marked by a share price jump in the past from shareholders immediately re-investing their cash.