Western Forest Products (OTCMKTS:WFSTF) Stock Price Down 2% – Here’s Why

Shares of Western Forest Products Inc. (OTCMKTS:WFSTF) fell 2% during mid-day trading on Friday. The stock traded as low as $9.89 and last traded at $9.89. Approximately 1,387 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 5,982 shares. The stock had previously closed at $10.09.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Western Forest Products in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Western Forest Products Stock Performance

The stock’s 50 day moving average is $12.58 and its 200 day moving average is $11.97.

Western Forest Products Company Profile

Western Forest Products Inc is a Canadian forest products company focused on the harvesting, processing and sale of timber from the coastal forests of British Columbia. Its operations include timberlands, sawmills and manufacturing facilities that produce a range of softwood lumber and specialty wood products.

The company’s product portfolio includes appearance-grade and structural lumber, timbers, decking, siding and other value-added wood products. Western Forest Products serves residential construction, industrial, infrastructure and specialty markets, selling its products in Canada, the United States and international markets, including Asia.

Western Forest Products has a long operating history in British Columbia’s coastal forest industry and is headquartered in Vancouver, British Columbia.