Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Canfor ( (TSE:CFP) ) has provided an announcement.
Canfor Corporation has completed its acquisition of all remaining shares of Canfor Pulp Products Inc., consolidating full ownership of its pulp and paper subsidiary under a court-approved plan of arrangement. Former Canfor Pulp shareholders could elect to receive either Canfor Corp shares or cash, with the parent issuing 912,217 shares and paying roughly $4 million in cash as aggregate consideration.
Following the transaction, Canfor now controls 100% of Canfor Pulp’s 65.2 million outstanding shares, up from about 54.8% previously. The pulp unit’s shares are slated to be delisted from the Toronto Stock Exchange, and Canfor plans to have Canfor Pulp cease to be a reporting issuer, streamlining corporate structure and regulatory reporting while eliminating the public float for the subsidiary’s investors.
The most recent analyst rating on (TSE:CFP) stock is a Hold with a C$16.00 price target. To see the full list of analyst forecasts on Canfor stock, see the TSE:CFP Stock Forecast page.
Spark’s Take on CFP Stock
According to Spark, TipRanks’ AI Analyst, CFP is a Neutral.
The score is held down primarily by weak financial performance (declining revenue, sustained losses, and sharply negative free cash flow). Technical indicators also lean bearish, with negative MACD and the price below key moving averages. The earnings call adds some offset from strong liquidity and operational actions, but ongoing difficult market conditions and a loss-making valuation profile keep the overall score low.
To see Spark’s full report on CFP stock, click here.
More about Canfor
Canfor Corporation is a Canadian integrated forest products company focused on lumber, pulp and paper, and related wood products, with operations centered in British Columbia. Canfor Pulp Products Inc. is its pulp and paper subsidiary, historically listed separately on the Toronto Stock Exchange and specializing in market pulp and paper products for global customers.
Average Trading Volume: 209,098
Technical Sentiment Signal: Sell
Current Market Cap: C$1.56B
For an in-depth examination of CFP stock, go to TipRanks’ Overview page.