Fortress Paper Ltd. (TSE:FTP)’s share price dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as C$4.15 and last traded at C$4.25. Approximately 9,350 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 8,797 shares. The stock had previously closed at C$4.50.
Separately, Raymond James Financial cut their price target on shares of Fortress Paper from C$6.00 to C$4.50 and set an “outperform” rating on the stock in a report on Friday, November 10th.
The stock has a market cap of $59.09, a price-to-earnings ratio of -2.30 and a beta of -1.01.
About Fortress Paper
Fortress Paper Ltd. is a Canada-based producer of specialty pulp, security papers and other security related products. The Company operates through two segments: the Dissolving Pulp and the Security Paper Products. The Company operates its dissolving pulp business through the Fortress Specialty Cellulose (FSC) mill located in Thurso, Quebec, Canada, which also operates in the renewable energy generation sector through its cogeneration facility.
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