Resolute Forest Products (NYSE:RFP) (TSE:RFP) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,210,929 shares, an increase of 71.7% from the October 15th total of 705,159 shares. Based on an average trading volume of 373,213 shares, the short-interest ratio is currently 3.2 days. Approximately 1.3% of the shares of the stock are sold short.

Shares of RFP stock opened at $12.07 on Friday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.80 and a beta of 1.38. Resolute Forest Products has a fifty-two week low of $7.40 and a fifty-two week high of $15.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.28 and a current ratio of 2.56.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its earnings results on Thursday, November 1st. The basic materials company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.34. The firm had revenue of $974.00 million for the quarter. Resolute Forest Products had a return on equity of 11.49% and a net margin of 5.70%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS.

A number of research firms have commented on RFP. Royal Bank of Canada raised their price objective on Resolute Forest Products from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, August 3rd. Scotiabank restated a “hold” rating and set a $12.00 price objective on shares of Resolute Forest Products in a research note on Friday, August 3rd. TheStreet upgraded Resolute Forest Products from a “c” rating to a “b-” rating in a research note on Friday, August 3rd. CIBC downgraded Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, September 19th. Finally, TD Securities reduced their target price on Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating on the stock in a report on Friday, November 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.88.

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of Resolute Forest Products by 36.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,258,800 shares of the basic materials company’s stock valued at $13,029,000 after purchasing an additional 334,300 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Resolute Forest Products by 32.5% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 50,600 shares of the basic materials company’s stock valued at $524,000 after purchasing an additional 12,400 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Resolute Forest Products during the 2nd quarter valued at $1,076,000. Dimensional Fund Advisors LP boosted its holdings in shares of Resolute Forest Products by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,851,433 shares of the basic materials company’s stock valued at $39,862,000 after acquiring an additional 228,131 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Resolute Forest Products by 18.0% during the 2nd quarter. BlackRock Inc. now owns 1,841,297 shares of the basic materials company’s stock valued at $19,057,000 after acquiring an additional 281,317 shares in the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Short Interest in Resolute Forest Products (RFP) Expands By 71.7%” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2018/11/16/short-interest-in-resolute-forest-products-rfp-expands-by-71-7.html.

Resolute Forest Products Company Profile

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

Featured Story: What are the risks of holding treasury bonds?

Receive News & Ratings for Resolute Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.