RBC Capital analyst Paul Quinn maintained a Buy rating on Resolute Forest (RFP) on January 8 and set a price target of $9.50. The company’s shares closed last Tuesday at $7.25, close to its 52-week high of $7.36.
According to TipRanks.com, Quinn is a 5-star analyst with an average return of 21.4% and a 71.6% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, International Paper Co, and West Fraser Timber Co.
Resolute Forest has an analyst consensus of Moderate Buy, with a price target consensus of $8.07.
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Based on Resolute Forest’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $730 million and net profit of $57 million. In comparison, last year the company earned revenue of $705 million and had a GAAP net loss of $43 million.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RFP in relation to earlier this year.
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Resolute Forest Products, Inc. provides forest products. It owns and operates pulp & paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.