Western Forest Products (TSE:WEF) Reaches New 52-Week Low at $0.50

Western Forest Products Inc. (TSE:WEF) shares reached a new 52-week low on Thursday . The company traded as low as C$0.50 and last traded at C$0.50, with a volume of 57887 shares. The stock had previously closed at C$0.51.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WEF shares. CIBC cut their price target on Western Forest Products from C$0.65 to C$0.60 in a research note on Thursday, May 9th. TD Securities cut their price target on Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating for the company in a research note on Thursday, May 9th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$0.71.

Western Forest Products Price Performance

The stock has a market cap of C$158.38 million, a price-to-earnings ratio of -2.27, a price-to-earnings-growth ratio of 0.32 and a beta of 1.92. The stock has a fifty day simple moving average of C$0.56 and a 200-day simple moving average of C$0.64. The company has a current ratio of 2.77, a quick ratio of 0.73 and a debt-to-equity ratio of 18.42.

Insider Transactions at Western Forest Products

In other Western Forest Products news, Senior Officer Joseph Steven Hofer acquired 100,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of C$0.63 per share, for a total transaction of C$63,000.00. 0.67% of the stock is owned by insiders.

About Western Forest Products

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.