Itafos (CVE:IFOS) Trading Down 0.4% – Here’s Why

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

Analysts Set New Price Targets

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

Itafos Stock Performance

The company has a debt-to-equity ratio of 19.58, a current ratio of 2.71 and a quick ratio of 0.72. The company has a fifty day moving average price of C$2.45 and a 200 day moving average price of C$3.00. The stock has a market cap of C$436.31 million, a P/E ratio of 5.33 and a beta of 0.04.

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.