Itafos (CVE:IFOS) Shares Climb 0.5% – Still a Buy?

Shares of Itafos Inc. (CVE:IFOS) rose 0.5% during mid-day trading on Monday. The stock traded as high as C$2.03 and last traded at C$2.02. Approximately 23,229 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 149,698 shares. The stock had previously closed at C$2.01.

Wall Street Analyst Weigh In

Separately, Raymond James Financial decreased their target price on Itafos from C$4.50 to C$3.75 and set an “outperform” rating on the stock in a research note on Monday, August 24th. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$3.75.

Itafos Stock Up 0.5%

The company has a quick ratio of 0.72, a current ratio of 2.12 and a debt-to-equity ratio of 19.32. The stock has a market cap of C$393.46 million, a price-to-earnings ratio of 7.77 and a beta of -0.05. The business’s fifty day moving average is C$2.27 and its two-hundred day moving average is C$2.79.

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.