Itafos (CVE:IFOS) Trading Down 5.2% – Time to Sell?

Itafos Inc. (CVE:IFOS)’s stock price was down 5.2% during mid-day trading on Monday . The company traded as low as C$2.56 and last traded at C$2.57. Approximately 157,399 shares traded hands during trading, a decline of 31% from the average daily volume of 227,207 shares. The stock had previously closed at C$2.71.

Wall Street Analysts Forecast Growth

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

Itafos Trading Down 2.5%

The company has a 50 day moving average of C$3.26 and a 200 day moving average of C$3.19. The company has a debt-to-equity ratio of 19.58, a quick ratio of 0.73 and a current ratio of 2.71. The stock has a market capitalization of C$489.87 million, a price-to-earnings ratio of 5.99 and a beta of 0.34.

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.