Canfor (OTCMKTS:CFPZF) Shares Pass Above 50-Day Moving Average – Here’s Why

Canfor Co. (OTCMKTS:CFPZF)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.63 and traded as high as $10.19. Canfor shares last traded at $10.19, with a volume of 24,346 shares changing hands.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded shares of Canfor to a “strong-buy” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Canfor Stock Up 0.4%

The company has a 50 day moving average of $8.63 and a 200 day moving average of $9.17.

Canfor Company Profile

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.