Western Forest Products (TSE:WEF) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Western Forest Products Inc. (TSE:WEF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.45 and traded as high as C$0.45. Western Forest Products shares last traded at C$0.44, with a volume of 245,369 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on WEF. Raymond James cut their price objective on shares of Western Forest Products from C$0.60 to C$0.50 in a report on Thursday, January 30th. TD Securities raised their price target on shares of Western Forest Products from C$0.50 to C$0.55 and gave the stock a “hold” rating in a report on Tuesday, February 18th.

Western Forest Products Price Performance

The stock’s fifty day moving average price is C$0.43 and its 200-day moving average price is C$0.45. The firm has a market cap of C$139.37 million, a price-to-earnings ratio of -3.19, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a current ratio of 3.04, a quick ratio of 0.73 and a debt-to-equity ratio of 19.61.

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.