Wilderhill Clean Energy Invesco ETF (PBW)
$56.98 0.50 (0.89%)
14:05 EDT PBW Stock Quote Delayed 30 Minutes
Previous Close $56.48
Market Cap 254.60M
PE Ratio -
Volume (Avg. Vol.) 211,089
Day's Range 56.60 - 58.12
52-Week Range 22.20 - 59.23
Dividend & Yield 0.36 (0.63%)
PBW Stock Predictions, Articles, and Wilderhill Clean Energy Invesco ETF News
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Lumber futures (LB1:COM) jumped to all-time highs today, "exceeding previous highs by a moonshot" in a "parabolic, explosive move to the upside."The front-month September lumber contract settled +3.3% in Chicago to $939 per 1,000 board ft., the highest on record according to Dow Jones, and has more than doubled in price YTD.There's "still a shortage of wood in the field - at the end-user, retail and distribution level," Greg Kuta, president of lumber broker Westline Capital Strategies, tells MarketWatch, adding demand is easily 10%-20% above pre-COVID levels.Meanwhile, lumber futures for November delivery closed +3.2% to $611.40, breaking an eight-session losing streak.The spread between September and November is "not normal, not even close," says Kuta, who sees a wide range for prices in the next several weeks, but he does not expect a collapse in physical cash prices as demand is unlikely to fall anytime soon.Potentially relevant tickers include RFP, RYN, OTCPK:WFTBF, OSB, OTCPK:CFPZF, OTC:IFSPF, OTC:CWXZF,Lumber ETFs WOOD and CUT have outperformed most other commodity funds over the last one-month and six-month periods.
Five of the largest Canadian producers - West Fraser Timber (OTCPK:WFTBF +4.6%), Norbord (OSB +4.9%), Canfor (OTCPK:CFPZF +7%), Interfor (OTC:IFSPF +5%) and CanWel Building Materials (OTC:CWXZF +1%) - all set new 52-week highs in Toronto, driven by new record high prices for lumber and wood panel products due to continuing robust demand from renovation and new home markets.September lumber on the Chicago Mercantile Exchange earlier jumped by the exchange maximum $29, or +3.85% to $783 per 1,000 board feet, after settling yesterday at a record $754.RBC Capital's Paul Quinn expects strong prices to continue for some time, and upgrades Resolute Forest Products (RFP +22.8%) to Outperform from sector perform; he has Outperform ratings in most lumber stocks under coverage, except Rayonier Advanced Materials (RYN -0.2%), which he rates at Sector Perform.He raises stock price targets for nine forestry companies, with the biggest jumps of $8 to $85 for West Fraser and $7 to $57 for Norbord.Investors are "under-appreciating the cash generation potential of the businesses given that unit production costs should actually decline given the greater fixed cost contribution per unit and recent investments in efficiency," Quinn writes.
Lumber futures closed yesterday at a record high, propelled by a do-it-yourself remodeling boom and resurgent home builders that caught saw mills by surprise, resulting in a supply squeeze.Lumber for September delivery jumped 3.1% to settle at $641.60 per thousand board feet on the Chicago Mercantile Exchange and touched $649 today, the highest since at least 1986, according to Bloomberg.With soaring demand, prices returned to pre-pandemic levels in July and have since added another 47%.Producers such as Interfor (OTC:IFSPF) and Canfor (OTCPK:CFPZF) expect the market to remain strong as repair and renovation demand continues to be robust."We as an industry haven't been able to keep up with demand," Weyerhauser (NYSE:WY) CEO Devin Stockfish said in his company's recent earnings conference call.
From Analyst Ratings
Raymond James analyst Daryl Swetlishoff maintained a Buy rating on Interfor (IFSPF – Research Report) yesterday and set a price target of C$18.50. The company’s shares closed last Wednesday at $10.33. According to TipRanks.com, Swetlishoff has 0 stars on 0-5 stars ranking scale with an average return of -15.0% and a 26.6% success rate. Swetlishoff
From Analyst Ratings
Yesterday, the Executive Vice-President – Operations of Interfor (IFSPF – Research Report), Simon Bruce Luxmoore, bought shares of IFSPF for $34.5K. Following this transaction Simon Bruce Luxmoore’s holding in the company was increased by 24% to a total of $183.4K. Following Simon Bruce Luxmoore’s last IFSPF Buy transaction on April 01, 2020, the stock climbed