Acadian Timber Corp. (OTCMKTS:ACAZF – Get Rating) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 20,800 shares, a decrease of 10.3% from the August 15th total of 23,200 shares. Based on an average daily volume of 3,300 shares, the days-to-cover ratio is currently 6.3 days.
Wall Street Analysts Forecast Growth
ACAZF has been the subject of a number of analyst reports. Credit Suisse Group upgraded shares of Acadian Timber from an "underperform" rating to a "neutral" rating in a research note on Friday, September 2nd. Scotiabank cut their target price on Acadian Timber from C$18.25 to C$17.00 in a research report on Thursday, July 28th. CIBC upgraded shares of Acadian Timber from an "underperform" rating to a "neutral" rating in a research note on Friday, July 8th. Finally, Royal Bank of Canada lowered their target price on shares of Acadian Timber from C$18.00 to C$17.00 in a report on Friday, July 29th.
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Acadian Timber Trading Up 0.5 %
Acadian Timber stock traded up $0.07 during midday trading on Tuesday, hitting $12.56. 3,131 shares of the company's stock were exchanged, compared to its average volume of 2,624. Acadian Timber has a 12-month low of $12.32 and a 12-month high of $15.82. The firm's 50 day simple moving average is $13.02 and its 200 day simple moving average is $13.98.
Acadian Timber Cuts Dividend
The business also recently disclosed a dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.2263 per share. This represents a yield of 6.75%. The ex-dividend date was Wednesday, June 29th.
About Acadian Timber
(Get Rating)
Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates through two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick.
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