Canfor Pulp Products (TSE:CFX) Shares Up 30.3% – Here’s Why

Shares of Canfor Pulp Products Inc. (TSE:CFX) traded up 30.3% during mid-day trading on Thursday . The company traded as high as C$0.50 and last traded at C$0.50. 382,507 shares were traded during mid-day trading, an increase of 1,238% from the average session volume of 28,598 shares. The stock had previously closed at C$0.38.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James Financial dropped their price target on Canfor Pulp Products from C$1.00 to C$0.75 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Royal Bank Of Canada dropped their price objective on Canfor Pulp Products from C$0.50 to C$0.40 and set a “sector perform” rating for the company in a research report on Friday, November 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Canfor Pulp Products currently has a consensus rating of “Hold” and an average target price of C$0.63.

Canfor Pulp Products Stock Down 2.0%

The firm has a fifty day simple moving average of C$0.39 and a 200 day simple moving average of C$0.55. The company has a debt-to-equity ratio of 57.90, a quick ratio of 0.73 and a current ratio of 0.91. The company has a market cap of C$32.62 million, a PE ratio of -3.13, a PEG ratio of -25.62 and a beta of 0.03.

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 return on equity of 60.52% and a negative net margin of 21.46%.The company had revenue of C$164.60 million for the quarter. Equities research analysts predict that Canfor Pulp Products Inc. will post 0.12 EPS for the current 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.