Canfor (OTCMKTS:CFPZF) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Canfor Co. (OTCMKTS:CFPZF) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.43 and traded as high as $10.91. Canfor shares last traded at $10.18, with a volume of 18,908 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on CFPZF shares. Royal Bank Of Canada lowered Canfor to a “sector perform” rating in a research note on Thursday, April 16th. Raymond James Financial lowered Canfor from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Canfor Trading Down 0.5%

The firm has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $9.54.

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.