Raymond James Financial Has Lowered Expectations for Itafos (CVE:IFOS) Stock Price

Itafos (CVE:IFOS) had its price objective decreased by research analysts at Raymond James Financial from C$4.50 to C$3.75 in a research report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 55.60% from the company’s previous close.

Itafos Price Performance

Shares of Itafos stock traded down C$0.03 during midday trading on Monday, hitting C$2.41. 27,089 shares of the company were exchanged, compared to its average volume of 177,868. The firm has a 50 day simple moving average of C$2.38 and a 200-day simple moving average of C$2.93. The company has a debt-to-equity ratio of 19.32, a current ratio of 2.12 and a quick ratio of 0.72. The firm has a market cap of C$469.42 million, a P/E ratio of 9.27 and a beta of 0.02. Itafos has a 52 week low of C$2.15 and a 52 week high of C$4.67.

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.