Mackie Research Updates Coverage on NXT Energy Solutions (TSXV:SFD) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, May 2, 2013 - Investment firm Mackie Research has
updated its coverage on NXT Energy Solutions (TSXV:SFD). Following the release
of the company's fourth quarter and December 31, 2012 year end results, analyst
Raveel Afzaal reiterated his speculative buy recommendation, maintaining his
target price of $1.60, giving a projected return of 167% from the $.0.60 price
the day the report was issued.
InvestmentPitch.com has produced a "video news alert" about NXT Energy Solutions
based on this research report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "NXT" in the search box.
The company reported revenue of $5.7 million for the fourth quarter, which was
in line with Mackie's expectations. However, the EBITDA of $3 million was
significantly above Mackie's conservative estimate of $1 million.
The company realized record revenues of $11 million in 2012, compared with
revenues of $145,000 for 2011, and net income of $2 million for 2012, compared
to a net loss of $3.6 million for 2011.
Using a Cessna 560 Citation jet, and flying at 300 miles per hour at 10,000
feet, the 2 systems record data at 2,000 cycles per second. NXT Energy uses the
Stress Field Detector survey system to survey large tracts of land in order to
identify and prioritize areas containing potential oil & gas reservoirs.
The system can be used both onshore and offshore to remotely identify areas with
exploration potential for traps and reservoirs. By looking at the gravitational
field in a different way, new information about the subsurface can be revealed.
The company's system is about 10 to 30 times cheaper than the cost of conducting
a seismic survey, and can be conducted at a fraction of the time.
The share price hit a high of $1.13 on the back of the PEMEX contract awarded in
2012. Since then, the share price has retreated primarily due to the absence of
news.
Analyst Raveel Afzaal stated, "We are optimistic about NXT's prospects in
securing a large contract with PEMEX in the near-term. We believe that a repeat
contract with PEMEX could serve as an important valuation catalyst for the
company's share price. In addition, the company is currently in discussions in
Asia and Mediterranean for contracts with an aggregate dollar value ranging from
$17 to $24 million."
The company had 39.6 million shares outstanding at the end of December, and
given a current price of $0.72, the company is capitalized at $28.5 million.
For more information, please visit the company's website www.nxtenergy.com or
contact Greg Leavens, VP of Finance at 403-206-0805.
The company's investor relations is handled by kin communications. They can be
reached at 604-684-6730 or by email at sfd(at)kincommunications.com.
For more information about Mackie Research or to obtain the report on NXT
Energy, contact your nearest Mackie Research office. Their branches are listed
on their website at www.mackieresearch.com.
About InvestmentPitch
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multiple platforms to investors and financial professionals, specializes in
producing three minute videos based on news releases and research reports.
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 02.05.2013 - 17:14 Uhr
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News-ID 255689
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