Itafos (CVE:IFOS) Trading Down 0.4% – What’s Next?

Itafos Inc. (CVE:IFOS)’s stock price traded down 0.4% during mid-day trading on Tuesday . The company traded as low as C$2.19 and last traded at C$2.24. Approximately 117,230 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 187,481 shares. The stock had previously closed at C$2.25.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial downgraded shares of Itafos from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$5.50 to C$4.50 in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Itafos presently has an average rating of “Buy” and an average price target of C$4.50.

Itafos Stock Performance

The firm has a 50 day moving average of C$2.44 and a two-hundred day moving average of C$2.99. The stock has a market cap of C$422.67 million, a P/E ratio of 5.17 and a beta of 0.02. The company has a debt-to-equity ratio of 19.58, a quick ratio of 0.72 and a current ratio of 2.71.

About Itafos

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.