Itafos (CVE:IFOS) Trading Down 3.1% – Here’s Why

Shares of Itafos Inc. (CVE:IFOS) fell 3.1% on Monday . The company traded as low as C$2.52 and last traded at C$2.52. 109,829 shares traded hands during trading, a decline of 49% from the average daily volume of 215,018 shares. The stock had previously closed at C$2.60.

Analyst Upgrades and Downgrades

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

Itafos Stock Down 3.1%

The company has a quick ratio of 0.72, a current ratio of 2.71 and a debt-to-equity ratio of 19.58. The firm has a market cap of C$490.85 million, a P/E ratio of 6.00 and a beta of -0.02. The business has a fifty day moving average of C$2.92 and a 200 day moving average of C$3.13.

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.