Top Gainers: 5 Stocks to Watch on Wednesday

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1. West Fraser Timber Co. Ltd. (NYSE:WFG) is up more than 10.26% as of 12:05 PM ET after the Canadian forestry company announced that it would buy back $1.25 billion worth of its outstanding common stock through a modified Dutch auction. The tender price will be in the range of $80 to $95. At a midpoint of $87.5, this represents a premium of over 9% from West Fraser Timber Co. Ltd.’s (NYSE:WFG) yesterday’s closing price. The offer will be for up to 15% of the total issued and outstanding shares on a non-diluted basis.

Overall, West Fraser Timber Co. Ltd. (NYSE:WFG) was held by 20 hedge funds as of Q4 2021.

You can also take a peek at the Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio and 10 European Defense Stocks to Buy Now.

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