Raymond James Financial Cuts Itafos (CVE:IFOS) Price Target to C$3.75

Itafos (CVE:IFOS) had its target price dropped by Raymond James Financial from C$4.50 to C$3.75 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would indicate a potential upside of 55.60% from the company’s current price.

Itafos Stock Down 1.2%

Shares of IFOS stock traded down C$0.03 on Monday, hitting C$2.41. The company’s stock had a trading volume of 27,089 shares, compared to its average volume of 177,868. The stock has a market capitalization of C$469.42 million, a price-to-earnings ratio of 9.27 and a beta of 0.02. Itafos has a fifty-two week low of C$2.15 and a fifty-two week high of C$4.67. The firm’s fifty day moving average price is C$2.38 and its 200-day moving average price is C$2.93. 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.