Canfor Pulp Products (TSE:CFX) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Canfor Pulp Products Inc. (TSE:CFX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.50 and traded as high as C$0.63. Canfor Pulp Products shares last traded at C$0.63, with a volume of 3,458 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CFX shares. Raymond James Financial lowered shares of Canfor Pulp Products from a “moderate buy” rating to a “hold” rating and dropped their price objective for the stock from C$0.75 to C$0.50 in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their target price on Canfor Pulp Products from C$0.40 to C$0.50 and gave the company a “sector perform” rating in a report on Thursday, December 18th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$0.58.

Canfor Pulp Products Trading Down 3.2%

The business’s 50 day simple moving average is C$0.52 and its 200 day simple moving average is C$0.50. The stock has a market cap of C$39.79 million, a price-to-earnings ratio of -3.81, a PEG ratio of -25.62 and a beta of 0.04. The company has a quick ratio of 0.73, a current ratio of 0.91 and a debt-to-equity ratio of 57.90.

Canfor Pulp Products (TSE:CFX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C($0.19) earnings per share for the quarter. Canfor Pulp Products had a negative net margin of 21.46% and a negative return on equity of 60.52%. The company had revenue of C$164.60 million during the quarter. On average, research analysts expect that Canfor Pulp Products Inc. will post 0.12 EPS for the current fiscal year.

Canfor Pulp Products Company Profile

Canfor Pulp Products Inc produces and sells northern bleached softwood kraft pulp, or NBSK pulp and paper. The company also generates and sells electricity from biomass out of its pulp plants in Western Canada. The firm organizes itself into two segments based on product: pulp and paper. The pulp segment generates most of the revenue. Canfor Pulp’s NBSK pulp customers are typically manufacturers of tissue paper, specialty paper, and printing and writing paper. Most of Canfor Pulp’s revenue comes from Asia.