Itafos (CVE:IFOS) Trading Up 1.3% – Here’s Why

Itafos Inc. (CVE:IFOS)’s stock price rose 1.3% during trading on Monday . The company traded as high as C$2.44 and last traded at C$2.40. 91,046 shares were traded during trading, a decline of 46% from the average session volume of 167,339 shares. The stock had previously closed at C$2.37.

Wall Street Analysts Forecast Growth

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

Itafos Price Performance

The firm has a market cap of C$461.63 million, a PE ratio of 9.12 and a beta of 0.03. 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 50 day moving average price of C$2.34 and a two-hundred day moving average price of C$2.84.

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.