Home / Market Movers / TSX Composite Materials Stocks Get Lift from 1.82% Advance in Shares of West Fraser Timber Co. Ltd. (WFT:CA) on January 13

TSX Composite Materials Stocks Get Lift from 1.82% Advance in Shares of West Fraser Timber Co. Ltd. (WFT:CA) on January 13

West Fraser Timber Co. Ltd. (WFT:CA) was one of the best stocks in materials sector of the S&P/TSX Composite Index on January 13, rising 1.82% to close the day at $46.99 after closing the day prior at $46.15. Throughout the day, shares of WFT:CA traded as high as $47.56 and as low as $46.08. Today’s advance came with about 204,085 shares changing hands, compared to an average 30-day volume of 242,862 for West Fraser Timber Co. Ltd.. The price is currently below the 30-day volume weighted average price of $46.95 for WFT:CA.

The share appreciation gives the company a market capitalization of $3.52 billion based upon 76.27 million shares outstanding. It also means that West Fraser Timb has a price-to-book ratio of 1.75:1 and a price-to-earnings ratio of 16.1:1.

In the past 52 weeks, shares of WFT:CA have traded as low as $35.35 and as high as $54.18. Technical traders will take note that at $46.99, shares of WFT:CA are trading above their 200-day MA at $43.53 and below their 50-day MA at $47.7. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is West Fraser Timb?

West Fraser Timber Co.Ltd is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint with facilities in western Canada and the southern United States. The company’s 7900 employees are led by CEO Edward Seraphim from the corporate headquarters at 858 Beatty Street.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

For more information on West Fraser Timb and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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