Fibria Celulose SA (ADR) (FBR) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 21, 2016.
Fibria Celulose SA (ADR) closed down -0.16 points or -2.49% at $6.27 with 17,98,389 shares getting traded on Wednesday. Post opening the session at $6.3, the shares hit an intraday low of $6.22 and an intraday high of $6.35 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Fibria Celulose SA formerly Votorantim Celulose e Papel SA is a Brazil-based company involved in the production and sale of short fiber pulp. The Company operates pulp manufacturing plants in Aracruz (Espirito Santo) Tres Lagoas (Mato Grosso do Sul) Jacarei (Sao Paulo) and Veracel (Bahia). Additionally the Company is engaged in the cultivation of eucalyptus. It has plantations in the Brazilian states of Sao Paulo Minas Gerais Rio de Janeiro Mato Grosso do Sul Bahia and Espirito Santo. In 2011 the Company sold a business unit active in paper production. The Company has a number of subsidiaries in Brazil and abroad including Normus Empreendimentos e Participacoes Ltda Fibria Overseas Finance Ltd and Fibria Celulose (USA) Inc among others. On October 2013 the Company announced merger by incorporation of Normus Empreendimentos e Participacoes Ltda a wholly-owned subsidiary of the Company in order to simplify the corporate structure.