Western Forest Products Inc. (WEF.TO) Buy,…

Western Forest Products Inc. (WEF.TO)

16.97

+0.12 (0.71%)

as of Jun 4, 2026, 4:37:59 pm Market Open.

225 watching

PARTIAL BUY

Sector has been beaten down. Possibly something that you should look closely at. It is cyclical so it has its characteristics.

WEAK BUY

All lumber companies have been slammed this year with low prices. For WEF, demand from China and Japan has really gone down due to trade tensions between China and Canada. WEF still does real estate sales to bolster their income. WEF is near its low. You can pick at this, assuming we don't get a recession.

DON'T BUY

Forestry stocks have been tough since last September in a straight downtrend. He sold his forestry stocks last fall. Don't enter this sector yet. Not yet. WEF trades at 11x P/E. It pays a safe dividend. The street feels that lumber prices have abosrbed excess invenstory, so maybe this space is bottoming.

DON'T BUY

Forestry stocks look bad, keep falling. Things are turning around a little, but he needs to see more recovery to buy. These stocks can trend lower for a long time.

BUY

Canadian Forestry stocks. Here is an industry that is in a bit of oversupply. Curtailing production should be good in the short term. We are seeing all of these stocks selling towards their lows rather than highs. CFF is selling at a fraction of the book value. They have had negative earnings of late. WFT-T is 1.5 times book. IFP-T is at book value but has a much higher multiple. WEF-T is trading in the middle of the previous two but with a much more significant yield, possibly not as secure. They all have reasonable assets. They are a decent value play and could stand to do well if we get a building resurgence. You have to be patient.

TOP PICK

Might be having a mini-recession. Makes money no matter what, as it makes clear cedar for the refinishing market. No debt. One of the companies being given away in the stock market. Yield is 5.42%. (Analysts’ price target is $2.06)

DON'T BUY

Cheap and getting cheaper. Lumber prices have not recovered, neither has US housing. He would avoid it.

COMMENT

Short at $2? It has a solid base at $1.78. He thinks it looks more like a buy right now. If shorting it, be cautious.

PAST TOP PICK

(A Top Pick Mar 01/18, Down 28%) Has pulled back with the growth concerns in the US. A name you have to be patient with. Fundamentally is a strong company, 5% yield, 50% payout ratio. They have been buying back shares and raising their dividend. It likely won't do a lot until people are more comfortable with the economic growth.

TOP PICK

A new addition in his portfolio. It is large dimensional timber, with markets offshore. It has a good yield with exposure to a good management team and no debt. Yield 4.95% (Analysts’ price target is $2.53)

HOLD

They have no debt, it pays a good dividend and the stock is cheap he thinks. However, they are in a very volatile sector and people are worried about the housing market. He likes it as a hold. Yield 5%.

BUY

Forestry stocks have had a rough ride in the last 6 months. They turned first before the market. They have now gotten quite cheap. It is quiet cheap here and the balance sheet is fine. Their yield is good and quite well supported. It is a small long for him.

BUY ON WEAKNESS

They are more into cedar and it is not a commodity. A slowdown in the economy will cause reduced cedar usage. In the $2 range it is very attractive.

COMMENT

NTR or WEF? He would prefer NTR-T as he believes it will eventually be back to making money. He thinks deforestation is one of the biggest contributors to greenhouse gas emissions. There is only so much arable land and thinks NTR-T will benefit the most.

PARTIAL BUY

Got really hammered in the sell-off. It's likely trading at far below its book value. He doesn't think the US housing slowdown will be as long as others believe. Good value, though it's too speculative for him. Dividend is 4.5%. This got tossed out with the bathwater. Hold or add to it here.

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Western Forest Products Inc. (WEF.TO)