Western Forest Products (OTCMKTS:WFSTF) Given New C$1.25 Price Target at CIBC

Western Forest Products (OTCMKTS:WFSTF – Get Rating) had its price objective reduced by CIBC from C$1.50 to C$1.25 in a research report sent to investors on Tuesday, The Fly reports.

Several other brokerages have also weighed in on WFSTF. Royal Bank of Canada decreased their target price on shares of Western Forest Products from C$1.75 to C$1.50 in a research report on Friday, November 4th. TD Securities lowered shares of Western Forest Products from a buy rating to a hold rating in a research report on Monday, November 7th. Scotiabank reduced their price target on shares of Western Forest Products from C$2.00 to C$1.75 in a research report on Monday. Finally, Raymond James lowered shares of Western Forest Products from an outperform rating to a market perform rating in a research report on Monday, October 24th.

Western Forest Products Stock Performance

Shares of Western Forest Products stock opened at $0.90 on Tuesday. The firm’s 50-day simple moving average is $0.84 and its 200-day simple moving average is $1.01. Western Forest Products has a twelve month low of $0.79 and a twelve month high of $1.83.

Western Forest Products Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, November 25th were paid a $0.0092 dividend. This represents a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, November 24th.

About Western Forest Products

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Western Forest Products Inc engages in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing, and lumber purchasing and wholesaling businesses. Its products have applications in outdoor living; exterior appearance; interior living; and structural applications.