BlueMountain Capital Management LLC Takes Position in Resolute Forest Products Common Stock (RFP)

BlueMountain Capital Management LLC purchased a new position in Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,945 shares of the basic materials company’s stock, valued at approximately $1,076,000. BlueMountain Capital Management LLC owned 0.11% of Resolute Forest Products Common Stock as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC purchased a new stake in Resolute Forest Products Common Stock in the first quarter worth $108,000. CAPROCK Group Inc. purchased a new stake in Resolute Forest Products Common Stock in the second quarter worth $137,000. Quantitative Systematic Strategies LLC purchased a new stake in Resolute Forest Products Common Stock in the second quarter worth $232,000. Engineers Gate Manager LP purchased a new stake in Resolute Forest Products Common Stock in the first quarter worth $239,000. Finally, Cambria Investment Management L.P. purchased a new stake in Resolute Forest Products Common Stock in the second quarter worth $311,000. 91.55% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on RFP. Royal Bank of Canada increased their target price on Resolute Forest Products Common Stock from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Friday, August 3rd. Scotiabank raised Resolute Forest Products Common Stock from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 23rd. TheStreet raised Resolute Forest Products Common Stock from a “c” rating to a “b-” rating in a research note on Friday, August 3rd. CIBC raised Resolute Forest Products Common Stock from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, July 11th. Finally, TD Securities increased their target price on Resolute Forest Products Common Stock from $12.00 to $14.50 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $12.63.

NYSE RFP opened at $15.30 on Friday. Resolute Forest Products Common Stock has a 12 month low of $4.55 and a 12 month high of $15.75. The firm has a market capitalization of $1.33 billion, a PE ratio of 10.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.28 and a current ratio of 2.52.

Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) last released its earnings results on Thursday, August 2nd. The basic materials company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Resolute Forest Products Common Stock had a return on equity of 7.83% and a net margin of 3.28%. The firm had revenue of $976.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis.

Resolute Forest Products Common Stock Profile

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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Institutional Ownership by Quarter for Resolute Forest Products Common Stock (NYSE:RFP)

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