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The latest update is out from GreenFirst Forest Products ( (TSE:GFP) ).
GreenFirst Forest Products has received regulatory approval to distribute surplus assets from its wound-up defined benefit pension plan for Kapuskasing organized employees, allowing the company to retain an estimated $10.7 million after payments to eligible members and wind-up costs. In a parallel move to bolster its balance sheet, GreenFirst has secured a $19 million backstop on its existing standby letters of credit from Export Development Canada under the Account Performance Security Guarantee program, measures that collectively enhance the company’s liquidity, financial flexibility, and capacity to maintain operations and pursue strategic initiatives.
The most recent analyst rating on (TSE:GFP) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on GreenFirst Forest Products stock, see the TSE:GFP Stock Forecast page.
Spark’s Take on TSE:GFP Stock
According to Spark, TipRanks’ AI Analyst, TSE:GFP is a Neutral.
GreenFirst Forest Products is currently facing substantial financial and operational challenges, reflected in its low financial performance and valuation scores. The technical indicators suggest a bearish trend, while the earnings call provides some hope for future improvements. However, the overall outlook remains cautious due to the current negative financial metrics and market conditions.
To see Spark’s full report on TSE:GFP stock, click here.
More about GreenFirst Forest Products
GreenFirst Forest Products is a Canadian lumber producer focused on sustainable forest management and building products. The company operates four sawmills in Ontario and manages over 6.1 million hectares of FSC-certified public forestlands, aiming to leverage responsible forestry and the long-term demand for wood-based construction materials.
Average Trading Volume: 11,627
Technical Sentiment Signal: Sell
Current Market Cap: C$41.37M
For an in-depth examination of GFP stock, go to TipRanks’ Overview page.