West Fraser Timber announces their entry into an automatic share purchase plan

West Fraser Timber Co. Ltd. (TSE: WFT) announces their entry into an automatic share purchase plan in which the investment dealer may acquire common shares of the company on behalf of the enterprise during the blackout period of 1 April until 27 April 2018. 

West Fraser Timber Co. Ltd. (TSE: WFT) is a Canadian public forest company which the headquarters are based in Vancouver, British Columbia. The enterprise stands out for its variety of wood products, such as lumber, LVL, MDF, plywood, pulp, newsprint and wood chips. It can even create power with its facilities in western Canada and the southern United States. For about a year now, West Fraser has been attracting a lot of attention thanks to the steep rise in the price of its stock. Indeed, the values ​​greatly exceeded the expectations and trends estimated by financial analysts in the basic materials sector. In addition, the company’s net income has more than doubled since 2016. On March 31, 2017, the share price was 55.62 $CAD and today it stands at 85.61 $CAD. This represents an impressive short-term increase of 54%. It is safe to say that the value of West Fraser Timber shares is at historic highs, despite US softwood rates and the many challenges they faced last quarter.

As of March 29, 2018, West Fraser is taking an attractive position on the purchase of their common shares, following the changes made to the company’s structure last September. This news, made public by the company’s press release, contains certain forward-looking statements regarding potential future development projects. It will be interesting to keep an eye on this company as well as its achievements in the coming months. Their stock is currently overvalued by analysts and could be reduced according to next quarter’s results.

 

References:

West Fraser, West Fraser enters an automatic share purchase plan, https://www.westfraser.com/sites/default/files/March-29-2018-NR.pdf, visited on March 30th 2018

West Fraser, Products, https://www.westfraser.com/products, visited on March 30th 2018

BNN, West Fraser Timber Co Ltd. (WTF.TO), https://www.bnn.ca/stock/WFT.TO, visited on March 30th 2018

BNN, Brian Madden’s Market Call Minute, https://www.bnn.ca/video/brian-madden-s-market-call-minute~1274983, visited on March 30th 2018

BNN, West Fraser Stock at all time high, https://www.bnn.ca/video/west-fraser-stock-at-all-time-high~1240533, visited on March 30th 2018

The Wall Street Journal, West Fraser Timber Co Ltd., http://quotes.wsj.com/CA/WFT, visited on March 30th 2018

 

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