$RYAM Rayonier Long into earnings

Nov 4, 2019

For a safer entry a move above the 100ma should provide a nice rally, earnings could very well be that catalyst.
Rayonier (NYSE:RYAM) has concluded its previously announced sale of the Matane, Quebec pulp mill and related assets to Sappi, a global diversified wood fiber company, for a total purchase price of 175M.
Net of fees, expenses and other adjustments, the company expects to receive approximately 150M.
As previously disclosed, 100M of the proceeds will be used to repay a portion of the company's senior secured credit facilities, with the remaining funds to be retained and used for general corporate purposes.
Source Seekingalpha
Average analysts price target $7.58
Rayonier Advanced Materials, Inc. engages in the production and sale of cellulose specialties. Its products include high-purity cellulose, lumber, paper and pulp, and paperboard. The company operates through the following segments: High Purity Cellulose, Forest Products, Pulp and Paper. The High Purity Cellulose segment focuses on research and development capabilities and activities. The Forest Products segment manufacture and market construction-grade lumber in North America through seven sawmills located in Canada. The Pulp segment manufactures and markets high-yield pulp products. The Paper segment manufactures and markets paper products consisting of paperboard and newsprint. The company was founded in 1926 and is headquartered in Jacksonville, FL.