Western Forest Products (TSE:WEF) Stock Price Up 3.9% – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s share price rose 3.9% during trading on Tuesday . The stock traded as high as C$0.40 and last traded at C$0.40. Approximately 72,177 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 240,761 shares. The stock had previously closed at C$0.39.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WEF shares. Raymond James reduced their price target on Western Forest Products from C$0.60 to C$0.50 in a research report on Thursday, January 30th. TD Securities reduced their price target on Western Forest Products from C$0.55 to C$0.50 and set a “hold” rating on the stock in a research report on Friday, November 8th.

Western Forest Products Stock Up 10.4 %

The firm has a 50 day simple moving average of C$0.41 and a two-hundred day simple moving average of C$0.45. The company has a quick ratio of 0.73, a current ratio of 2.97 and a debt-to-equity ratio of 18.43. The stock has a market capitalization of C$134.62 million, a P/E ratio of -3.04, a PEG ratio of 0.32 and a beta of 1.81.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales.