Iofina (LON:IOF) Posts Quarterly Earnings Results

Iofina (LON:IOF) released its quarterly earnings results on Thursday. The company reported GBX 4.10 earnings per share for the quarter, Digital Look Earnings reports. The company had revenue of GBX 6,651 million for the quarter. Iofina had a return on equity of 9.82% and a net margin of 8.36%.

Iofina Trading Up 20.0%

Shares of LON:IOF traded up GBX 6.50 during midday trading on Thursday, hitting GBX 39. 3,728,743 shares of the stock were exchanged, compared to its average volume of 608,341. The stock has a market capitalization of £74.82 million, a price-to-earnings ratio of 15.60 and a beta of 0.53. The company has a debt-to-equity ratio of 14.85, a quick ratio of 1.56 and a current ratio of 2.43. The business’s 50-day moving average price is GBX 27.13 and its 200 day moving average price is GBX 25.31. Iofina has a 12 month low of GBX 20 and a 12 month high of GBX 39.55.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upgraded Iofina to a “buy” rating and boosted their price target for the stock from GBX 45 to GBX 60 in a report on Thursday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Iofina presently has an average rating of “Buy” and an average price target of GBX 60.

About Iofina

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.