Itafos (CVE:IFOS) Trading Down 0.8% – What’s Next?

Itafos Inc. (CVE:IFOS) dropped 0.8% during mid-day trading on Tuesday . The company traded as low as C$2.37 and last traded at C$2.40. 38,954 shares were traded during mid-day trading, a decline of 80% from the average session volume of 199,024 shares. The stock had previously closed at C$2.42.

Wall Street Analyst Weigh In

Separately, Raymond James Financial lowered Itafos from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from C$5.50 to C$4.50 in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Itafos presently has a consensus rating of “Buy” and a consensus price target of C$4.50.

Itafos Stock Performance

The firm’s 50 day simple moving average is C$2.57 and its 200 day simple moving average is C$3.07. The firm has a market capitalization of C$467.47 million, a price-to-earnings ratio of 5.71 and a beta of 0.04. The company has a debt-to-equity ratio of 19.58, a quick ratio of 0.72 and a current ratio of 2.71.

Itafos Company Profile

Itafos Inc operates as a phosphate and specialty fertilizer company. It operates through Conda, Arrais, and Development and Exploration segments. The company produces and sells monoammonium phosphate (MAP), MAP with micronutrients, superphosphoric acid, merchant grade phosphoric acid, ammonium polyphosphate, hydrofluorosilicic acid, direct application phosphate rock, single superphosphate (SSP), SSP with micronutrients, and sulfuric acid. It also owns interests in the Farim, a phosphate mine project situated in Farim, Guinea-Bissau; Araxá, a rare earth element and niobium mine and extraction plant project that is situated in Minas Gerais, Brazil; Arraias, an integrated phosphate fertilizer project located in Tocantins, Brazil; and Santana, an integrated phosphate mine and fertilizer plant project located in Pará, Brazil.