Western Forest Products (TSE:WEF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Western Forest Products Inc. (TSE:WEF) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$0.45 and traded as low as C$0.39. Western Forest Products shares last traded at C$0.39, with a volume of 88,520 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James reduced their price target on shares of Western Forest Products from C$0.60 to C$0.50 in a research note on Thursday, January 30th. TD Securities cut their target price on shares of 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 1.3 %

The stock has a market capitalization of C$121.95 million, a price-to-earnings ratio of -2.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. 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 50 day moving average price of C$0.42 and a 200 day moving average price of C$0.45.

Western Forest Products Company Profile

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.