Brokerage firm Bank of America Downgrades its rating on Fibria Celulose SA (ADR)(NYSE:FBR). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jul 21, 2016.
Fibria Celulose SA (ADR) (FBR) shares turned negative on Wednesdays trading session with the shares closing down -0.16 points or -2.49% at a volume of 17,98,389. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.35. The peak price level was also seen at $6.35 while the days lowest was $6.22. Finally the shares closed at $6.27. The 52-week high of the shares is $14.94 while the 52-week low is $6.22. According to the latest information available, the market cap of the company is $3,473 M.
Fibria Celulose SA formerly Votorantim Celulose e Papel SA is a Brazil-based company involved in the production and sale of short fiber pulp. The Company operates pulp manufacturing plants in Aracruz (Espirito Santo) Tres Lagoas (Mato Grosso do Sul) Jacarei (Sao Paulo) and Veracel (Bahia). Additionally the Company is engaged in the cultivation of eucalyptus. It has plantations in the Brazilian states of Sao Paulo Minas Gerais Rio de Janeiro Mato Grosso do Sul Bahia and Espirito Santo. In 2011 the Company sold a business unit active in paper production. The Company has a number of subsidiaries in Brazil and abroad including Normus Empreendimentos e Participacoes Ltda Fibria Overseas Finance Ltd and Fibria Celulose (USA) Inc among others. On October 2013 the Company announced merger by incorporation of Normus Empreendimentos e Participacoes Ltda a wholly-owned subsidiary of the Company in order to simplify the corporate structure.