Resolute Forest Products (RFP) : Traders are bullish on Resolute Forest Products (RFP) as it has outperformed the S&P 500 by a wide margin of 8.26% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.72%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.68% in the last 1 week, and is up 8.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Resolute Forest Products Inc. is up 4.8% in the last 3-month period. Year-to-Date the stock performance stands at -22.19%. The stock has recorded a 20-day Moving Average of 2.92% and the 50-Day Moving Average is 8.24%.
Resolute Forest Products (NYSE:RFP): The stock opened at $5.94 on Friday but the bulls could not build on the opening and the stock topped out at $6.00 for the day. The stock traded down to $5.84 during the day, due to lack of any buying support eventually closed down at $5.89 with a loss of -2.00% for the day. The stock had closed at $6.01 on the previous day. The total traded volume was 66,379 shares.
Also, In a research note released to the investors, RBC Capital downgrades its rating on Resolute Forest Products (NYSE:RFP).The analysts at the brokerage house have a current rating of Sector Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on April 25, 2016.
Resolute Forest Products Inc. is a holding company. The Company is a forest products company, which offers products, including newsprint, specialty papers, market pulp and wood products. It owns or operates approximately 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. The Company operates through four segments: newsprint, specialty papers, market pulp and wood products. It also sells green power produced from renewable sources, wood chips and other wood related products to customers located in Canada and the United States. The newsprint segment produces newsprint at 10 facilities in North America and one facility in South Korea. The specialty papers segment produces specialty papers at five facilities in North America. The market pulp segment produces market pulp at seven facilities in North America. The wood products segment operates 15 sawmills in Canada.