Tidewater Renewables Supports Canadian Government’s Biofuels Incentive

Tidewater Renewables Ltd. ( (TSE:LCFS) ) just unveiled an announcement.

Tidewater Renewables Ltd. has expressed its support for the Canadian government’s announcement of a new Biofuels Production Incentive, which will provide $370 million over two years to support biodiesel and renewable diesel producers. This initiative is expected to enhance the company’s cash flow and returns, as its Prince George refinery is projected to produce significant volumes of renewable diesel during the eligible period. The government’s measures, including amendments to the Clean Fuel Regulations, aim to strengthen the domestic low-carbon fuels industry, benefiting Tidewater Renewables and its stakeholders.

The most recent analyst rating on (TSE:LCFS) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Tidewater Renewables Ltd. stock, see the TSE:LCFS Stock Forecast page.

Spark’s Take on TSE:LCFS Stock

According to Spark, TipRanks’ AI Analyst, TSE:LCFS is a Neutral.

The overall stock score is primarily impacted by the company’s weak financial performance, which is a significant concern. Despite positive technical indicators suggesting some market momentum, the negative valuation metrics due to ongoing losses and lack of profitability weigh heavily on the stock’s attractiveness.

To see Spark’s full report on TSE:LCFS stock, click here.

More about Tidewater Renewables Ltd.

Tidewater Renewables is a multi-faceted energy transition company focused on producing low carbon fuels such as renewable diesel and sustainable aviation fuel. The company aims to become a leading Canadian renewable fuel producer by efficiently converting various renewable feedstocks into low carbon fuels and developing clean fuels projects and related infrastructure.

Average Trading Volume: 6,281

Technical Sentiment Signal: Hold

Current Market Cap: C$121.3M

See more insights into LCFS stock on TipRanks’ Stock Analysis page.