Canfor Pulp Products (TSE:CFX) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Canfor Pulp Products Inc. (TSE:CFX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.49 and traded as high as C$0.52. Canfor Pulp Products shares last traded at C$0.52, with a volume of 51,420 shares.

Wall Street Analyst Weigh In

CFX has been the subject of several research analyst reports. Raymond James Financial lowered shares of Canfor Pulp Products from a “moderate buy” rating to a “hold” rating and decreased their price objective for the company from C$0.75 to C$0.50 in a research report on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on shares of Canfor Pulp Products from C$0.50 to C$0.60 and gave the company a “sector perform” rating in a report on Monday, March 9th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$0.62.

Canfor Pulp Products Price Performance

The company has a market capitalization of C$33.92 million, a PE ratio of -3.25, a price-to-earnings-growth ratio of -25.62 and a beta of -0.18. The company has a debt-to-equity ratio of 369.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50 day simple moving average is C$0.59 and its 200-day simple moving average is C$0.49.

Canfor Pulp Products (TSE:CFX) last posted its quarterly earnings data on Thursday, March 5th. The company reported C($2.05) EPS for the quarter. Canfor Pulp Products had a negative net margin of 21.61% and a negative return on equity of 105.48%. The business had revenue of C$140.20 million during the quarter. As a group, equities analysts forecast that Canfor Pulp Products Inc. will post 0.12 earnings per share for the current fiscal year.

About Canfor Pulp Products

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.