Itafos (CVE:IFOS) Shares Down 0.8% – Time to Sell?

Itafos Inc. (CVE:IFOS)’s stock price fell 0.8% during trading on Tuesday . The stock traded as low as C$2.37 and last traded at C$2.40. Approximately 38,954 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 199,024 shares. The stock had previously closed at C$2.42.

Analyst Ratings Changes

Separately, Raymond James Financial downgraded shares of Itafos from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from C$5.50 to C$4.50 in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$4.50.

Itafos Stock Down 0.8%

The company’s fifty day simple moving average is C$2.57 and its 200-day simple moving average is C$3.07. The firm has a market capitalization of C$467.47 million, a PE ratio of 5.71 and a beta of 0.04. The company has a debt-to-equity ratio of 19.58, a current ratio of 2.71 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.