Iofina (LON:IOF) Shares Up 7.2% – Time to Buy?

Iofina plc (LON:IOF) shares rose 7.2% during mid-day trading on Wednesday . The company traded as high as GBX 48.51 and last traded at GBX 48.02. Approximately 485,777 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 653,821 shares. The stock had previously closed at GBX 44.80.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upgraded Iofina to a “buy” rating and increased their price objective for the stock from GBX 45 to GBX 60 in a report on Thursday, April 30th. One equities research 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 GBX 60.

Iofina Trading Up 7.2%

The firm’s 50 day moving average price is GBX 38.66 and its 200-day moving average price is GBX 29.75. The stock has a market cap of £92.13 million, a P/E ratio of 12.01 and a beta of 0.87. The company has a debt-to-equity ratio of 11.96, a current ratio of 2.64 and a quick ratio of 1.56.

Iofina (LON:IOF) last released its quarterly earnings data on Thursday, April 30th. The company reported GBX 4.10 EPS for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The company had revenue of GBX 6,651 million for the quarter. As a group, equities research analysts forecast that Iofina plc will post 1.8160377 earnings per share for the current year.

About Iofina

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.