Itafos (CVE:IFOS) Stock Price Up 0.5% – Still a Buy?

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

Analyst Ratings Changes

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

Itafos Price Performance

The stock’s 50 day moving average is C$2.27 and its two-hundred day moving average is C$2.79. The stock has a market capitalization of C$393.46 million, a PE ratio of 7.77 and a beta of -0.05. The company has a debt-to-equity ratio of 19.32, a current ratio of 2.12 and a quick ratio of 0.72.

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.