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NOA
North American Construction Group Ltd.

North American Construction Group Ltd.NOA

Energy · Oil & Gas Equipment & Services
13.49USD
-0.07%
Sep 14, 2026
NOA overview ready
Provider of long-duration contract mining and heavy-equipment fleet services
NOA is a mining-services and heavy-civil contractor with a large owned fleet.
Narrative not measured
Mining Investment and Production Capacity ExpansionContract Mining and Heavy Equipment Fleet ServicesInfrastructure supplier
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk….
Solid fundamentals
Ev / sales is strong.
Market Sep 11Price action Sep 13Research Aug 4

Conviction Level

Company Position has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeatThemeHeat5.6PriceAction3.4Valuation4.7CompanyPosition
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$361.9M
Avg Volume (60D)
99.1K
60 sessions
Revenue Growth YoY
+8.2%
Trailing twelve months
Gross Margin
+12.8%
Trailing twelve months
Operating Margin
+7.5%
Trailing twelve months
Distance from 200DMA
-4.6%
Next Earnings
2026-11-11
P/E
17.3x
EV / Sales
1.1x
Market metrics as of Sep 13, 2026

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads fair.
North American Construction Group Ltd. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
NOA is a mining-services and heavy-civil contractor with a large owned fleet.
Opportunity
Moderate opportunity
Mine owners' and developers' spending on outsourced site operations, heavy-equipment fleets, earthmoving, overburden removal, mine development and sustaining production capacity across resource basins.

Narrative & Theme

Mining Investment and Production Capacity Expansion
Part of Contract Mining and Heavy Equipment Fleet Services, with moderate fit.
NOA has direct operating exposure to mine-owner demand for outsourced fleet capacity and contract mining rather than merely indirect commodity-price adjacency.
Narrative HeatNeutral6.9 / 10
This reading is no longer current (last measured 2026-08-27). It is kept until the next scheduled measurement replaces it.
Theme HeatNeutral5.6 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Energy · Oil & Gas Equipment & Services
What they do

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. It operates through Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments. The company offers mine management services for a thermal coal mine; and construction and operations support services in Canadian oil sands region. It also provides fully maintained heavy equipment rentals at metallurgical and thermal coal mines; heavy equipment rentals to iron ore, gold a….