Conifex Timber (TSE:CFF) Shares Down 14.3% – Here’s Why

Shares of Conifex Timber Inc. (TSE:CFF) were down 14.3% during mid-day trading on Wednesday . The company traded as low as C$0.10 and last traded at C$0.12. Approximately 424,924 shares traded hands during trading, an increase of 1,764% from the average daily volume of 22,798 shares. The stock had previously closed at C$0.14.

Analysts Set New Price Targets

Separately, Raymond James Financial dropped their price objective on Conifex Timber from C$0.85 to C$0.75 and set a “market perform” rating on the stock in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$0.75.

Conifex Timber Trading Down 14.3%

The business’s 50 day moving average price is C$0.23 and its 200-day moving average price is C$0.29. The company has a market cap of C$4.89 million, a price-to-earnings ratio of -0.14, a PEG ratio of 0.06 and a beta of 1.25. The company has a debt-to-equity ratio of 79.64, a quick ratio of 0.91 and a current ratio of 1.48.

Conifex Timber (TSE:CFF) last issued its earnings results on Friday, November 14th. The company reported C($0.37) earnings per share for the quarter. The business had revenue of C$38.16 million for the quarter. Conifex Timber had a negative net margin of 17.64% and a negative return on equity of 22.06%. On average, research analysts forecast that Conifex Timber Inc. will post 0.0300312 EPS for the current year.

About Conifex Timber

Conifex Timber Inc is a Canada based forestry company. It operates through two segments: Lumber and Bioenergy. The main activities of the lumbar segment include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing. The firm’s primary activities of the bioenergy segment are the generation of electrical power and the development of other opportunities in bioenergy and bioproducts which are complementary to the company’s harvesting and manufacturing operations.