Notable News Spotlight: Resolute Forest Products Inc. (NYSE:RFP)
Resolute Forest Products Inc. (NYSE:RFP) stock reported trading -63.61% off 52-week high price. On the other end, the stock has been noted 5.32% away from low price over the last 52-weeks. The stock disclosed a move of -20.54% away from 50 day moving average and -38.43% away from 200 day moving average. Moving closer, we can see that shares have been trading -18.66% off 20-day moving average. It has market cap of $288.15M.
On Feb. 3, 2020, Resolute Forest Products Inc. (NYSE:RFP) reported that, on February 1, 2020, it completed the previously disclosed acquisition of Conifex Timber Inc.’s three sawmills in the U.S. South, pursuant to the terms of the securities purchase agreement dated December 23, 2019. The total purchase price was $163 million, plus working capital, which is estimated at $13 million.
The three sawmills, with combined production capacity of 550 million board feet, are located in Cross City (Florida), and Glenwood and El Dorado (Arkansas). The facilities produce construction-grade dimensional lumber and decking products from locally-sourced southern yellow pine for distribution within the United States.
We are pleased to welcome the new employees to Resolute, stated Yves Laflamme, president and chief executive officer. The acquisition of the U.S. sawmills is the right move, at the right time, for Resolute; it will give us immediate scale in an attractive region, with quality assets in a rich fiber basket, close to growing end-markets.
The Canada based company Resolute Forest Products Inc. moved with change of -1.25% to $3.17 with the total traded volume of 258131 shares in recent session versus to an average volume of 531.64K shares. The stock was observed in the 5 days activity at -9.17%. The one month performance of stock was -22.11%. RFP’s shares are at -21.14% for the quarter and driving a -60.37% return over the course of the past year and is now at -24.52% since this point in 2018. Right now the stock beta is 1.65. The average volatility for the week and month was at 8.98% and 6.32% respectively. There are 90.90M shares outstanding and 85.41M shares are floated in market.