Canfor (OTCMKTS:CFPZF) Shares Pass Above Fifty Day Moving Average – What’s Next?

Canfor Co. (OTCMKTS:CFPZF)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.43 and traded as high as $9.80. Canfor shares last traded at $9.80, with a volume of 20,873 shares traded.

Wall Street Analyst Weigh In

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

Canfor Trading Up 2.9%

The business’s 50-day simple moving average is $9.43 and its two-hundred day simple moving average is $9.59.

About Canfor

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.