Itafos (CVE:IFOS) Trading Down 0.6% – Here’s Why

Itafos Inc. (CVE:IFOS) shares dropped 0.6% during mid-day trading on Tuesday . The stock traded as low as C$3.13 and last traded at C$3.16. Approximately 95,263 shares were traded during trading, a decline of 14% from the average daily volume of 111,237 shares. The stock had previously closed at C$3.18.

Itafos Stock Performance

The stock has a market capitalization of C$610.62 million, a price-to-earnings ratio of 4.86 and a beta of 0.31. The company has a current ratio of 2.66, a quick ratio of 0.73 and a debt-to-equity ratio of 31.70. The firm has a 50-day moving average of C$3.02 and a 200-day moving average of C$3.01.

Insider Activity at Itafos

In other Itafos news, Director Stephen Lawrence Shapiro purchased 11,900 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were bought at an average price of C$2.96 per share, for a total transaction of C$35,224.00. Following the acquisition, the director owned 81,354 shares in the company, valued at C$240,807.84. This represents a 17.13% increase in their ownership of the stock. Insiders bought a total of 20,000 shares of company stock worth $59,255 over the last three months. Insiders own 67.42% of the company’s stock.

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.