Canaccord Genuity Group Upgrades Iofina (LON:IOF) to Buy

Iofina (LON:IOF) was upgraded by research analysts at Canaccord Genuity Group to a “buy” rating in a research note issued to investors on Thursday,London Stock Exchange reports. The firm presently has a GBX 60 price objective on the stock, up from their prior price objective of GBX 45. Canaccord Genuity Group’s price target would indicate a potential upside of 53.85% from the stock’s current price.

Iofina Stock Up 20.0%

Shares of IOF traded up GBX 6.50 on Thursday, reaching GBX 39. The stock had a trading volume of 4,079,779 shares, compared to its average volume of 612,622. The company has a 50-day simple moving average of GBX 26.84 and a 200-day simple moving average of GBX 25.21. The firm has a market capitalization of £74.82 million, a price-to-earnings ratio of 15.60 and a beta of 0.53. Iofina has a 12-month low of GBX 20 and a 12-month high of GBX 39.55. The company has a debt-to-equity ratio of 14.85, a quick ratio of 1.56 and a current ratio of 2.43.

Iofina (LON:IOF) last announced its quarterly earnings data on Thursday, April 30th. The company reported GBX 4.10 earnings per share (EPS) for the quarter. The business had revenue of GBX 6,651 million during the quarter. Iofina had a return on equity of 9.82% and a net margin of 8.36%. Sell-side analysts predict that Iofina will post 1.8160377 EPS for the current year.

Iofina Company Profile

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.