Kevin Mason, CFA
Kevin Mason Managing Director

Kevin Mason joined ERA Forest Products Research in 1997 after starting his financial career in banking, and then co-founding a consulting practice that included corporate advisory and valuation services to diverse industries from biotech to retail. Since joining ERA, Kevin’s focus has been exclusively forest products, covering the sector’s major North American companies and providing detailed analysis of the global forest products industry to clients worldwide, including institutional investors managing over $5 trillion in assets.

After more than a decade as a forest products analyst, Kevin has built a solid reputation among his peers in the industry. He is a regular speaker at conferences hosted by industry organizations such as the Pulp and Paper Products Council, Council of Forest Industries, and the Western Wood Products Association, and is also quoted extensively in mainstream media such the Wall Street Journal and the National Post, as well as on CBC radio and television programs.

Kevin holds a bachelor of commerce degree from the University of British Columbia, has been a CFA charterholder since 2001, and is a member of the Vancouver Society of Financial Analysts.


David Elstone

David Elstone, RPF

David Elstone joined ERA Forest Products Research in 2005, specializing in the coverage of timber, lumber, panel, fibre and pulp sectors. David brings more than a decade of forestry experience to Equity Research, having worked previously with Canfor, TimberWest, Weyerhaeuser and the B.C. Ministry of Forests. David has presented at industry conferences hosted by BC Hydro, Forest Resources Association and Western Wood Products Association. He is also a regular contributor of articles and information to various forest industry trade journals and other media outlets.

David holds a bachelor’s degree in forestry from the University of British Columbia and a graduate diploma in business administration from Simon Fraser University. He is a member of the Canadian Institute of Forestry and a registered professional forester with the Association of British Columbia Forest Professionals. David is studying to obtain the CFA designation.


Claire Huxtable, RPF, CFA
Claire HuxtableAnalyst

After beginning her career in the woods working for Western Forest Products on BC’s Vancouver Island, Claire moved into private equity markets, working in the U.S. as a portfolio analyst and account manager for Hancock Timber Resource Group, one of the world’s largest timberland investment management organizations. Prior to joining ERA Forest Products Research, she was a member of RBC’s top-ranked capital markets forest products research team, where she focused on North American paper and forest products companies.

Claire holds a bachelor’s degree in forestry from the University of British Columbia and Laval University, and an MBA from the University of British Columbia. She is a registered professional forester with the Association of British Columbia Forest Professionals, a CFA charterholder, and a member of the Vancouver Society of Financial Analysts.


Graham Sheppard

Graham Sheppard, BComm

Graham Sheppard joined ERA Forest Products Research in 2009 after ranking in the top 10% of his graduating class at the University of British Columbia’s Sauder School of Business, where he majored in finance. He also achieved recognition as an Academic All-Canadian Athlete by Canadian Interuniversity Sport two years in a row. In his current role as a research analyst at ERA, Graham specializes in the analysis of the recovered fibre and paper packaging markets, along with financial analysis of North American paper and packaging companies.

Graham has passed all three levels of the CFA Program and will be eligible for the CFA charter upon completion of the required work experience.

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ERA Forest Products Research IS A

ERA is an independent research company with an exclusive focus on the Forest Products Sector, including Timber, Pulp, Paper, Newsprint, Containerboard, Lumber, OSB, Plywood and Fiber companies. ERA covers all companies in the Forest Products Sector, Domestic and International, Equity and Debt.   More >>


(mutual funds, hedge funds, pension funds)

ERA Forest Products Research focuses exclusively on making investment recommendations and providing industry analysis of the Forest Products Sector — no stock trading, no investment banking, no money management.    Learn more >>

(public or private forest products companies)

ERA provides research to industry clients world-wide. ERA’s quarterly and annual price forecasts combined with their detailed industry knowledge provide clients with an understanding of current and future market conditions in the Forest Products sector.
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(forestry economic development departments)

ERA was established as an independent research and forecasting organization in 1994 and provides information to governmental organizations world-wide.    Learn more >>

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