Itafos (CVE:IFOS) Shares Up 5.9% – Here’s What Happened

Itafos Inc. (CVE:IFOS) shares traded up 5.9% during trading on Monday . The company traded as high as C$4.66 and last traded at C$4.52. 149,881 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 188,089 shares. The stock had previously closed at C$4.27.

Itafos Price Performance

The firm has a fifty day moving average price of C$3.17 and a two-hundred day moving average price of C$3.06. The company has a quick ratio of 0.73, a current ratio of 2.72 and a debt-to-equity ratio of 20.68. The stock has a market capitalization of C$869.56 million, a P/E ratio of 6.92 and a beta of 0.45.

Insiders Place Their Bets

In other news, Director Stephen Lawrence Shapiro bought 11,900 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was acquired at an average cost of C$2.96 per share, with a total value of C$35,224.00. Following the completion of the acquisition, the director owned 81,354 shares of the company’s stock, valued at approximately C$240,807.84. This represents a 17.13% increase in their ownership of the stock. In the last three months, insiders have bought 20,000 shares of company stock worth $59,255. 67.42% of the stock is currently owned by company insiders.

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.