Itafos (CVE:IFOS) Shares Climb 0.5% – Time to Buy?

Shares of Itafos Inc. (CVE:IFOS) shot up 0.5% during trading on Monday. The company traded as high as C$2.03 and last traded at C$2.02. Approximately 23,229 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 149,698 shares. The stock had previously closed at C$2.01.

Analyst Ratings Changes

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

Itafos Price Performance

The company has a debt-to-equity ratio of 19.32, a quick ratio of 0.72 and a current ratio of 2.12. The stock has a market capitalization of C$407.09 million, a P/E ratio of 8.04 and a beta of -0.05. The firm has a 50-day moving average price of C$2.27 and a 200 day moving average price of C$2.78.

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.