Conifex Timber Inc. primarily manufactures and sells lumber products in the United States, China, Canada, Japan, and internationally. It is involved in the timber harvesting, reforestation, and forest management activities; manufacture of finished softwood lumber from spruce, pine, and fir logs; manufacture, sale, and distribution of dimension lumber; processing logs into lumber and wood chips, as well as by-products or residues, such as trim blocks, sawdust, shavings, and barks; and providing value added lumber finishing services. It also develops bioenergy and bio products; and operates a 36 megawatt biomass power generation plant, which produces renewable energy for commercial sale. The company was formerly known as West Fourth Capital Inc. and changed its name to Conifex Timber Inc. in June 2010. Conifex Timber Inc. was incorporated in 2007 and is headquartered in Vancouver, Canada.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Conifex Timber from an "outperform" rating to a "hold" rating and dropped their price target for the stock from C$2.50 to C$2.00 in a research report on Monday, July 18th. Raymond James set a C$3.25 price objective on shares of Conifex Timber and gave the company an "outperform" rating in a research note on Thursday, May 12th. Finally, CIBC cut their target price on shares of Conifex Timber from C$2.50 to C$2.25 in a report on Friday, July 8th.
Conifex Timber Price Performance
CFF Stock traded down C$0.02 during trading on Monday, reaching C$1.98. 13,324 shares of the company were exchanged, compared to its average volume of 26,780. The company has a 50-day moving average of C$1.85 and a two-hundred day moving average of C$1.94. The company has a market capitalization of C$79.50 million and a price-to-earnings ratio of 2.60. Conifex Timber has a twelve month low of C$1.65 and a twelve month high of C$2.28. The company has a debt-to-equity ratio of 45.54, a current ratio of 2.49 and a quick ratio of 0.71.
Conifex Timber Announces Dividend
The firm also recently announced a None dividend, which was paid on Monday, August 8th. Shareholders of record on Friday, July 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 14th.