Iofina (LON:IOF) Stock Breaks Above 50 Day Moving Average – What’s Next?

Shares of Iofina plc (LON:IOF) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of GBX 52.32 and traded as high as GBX 54. Iofina shares last traded at GBX 54, with a volume of 202,361 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 70 price target on shares of Iofina in a research note on Friday, October 16th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 70.

Iofina Stock Up 0.5%

The firm has a market cap of £102.16 million, a P/E ratio of 11.83 and a beta of 0.96. The company has a debt-to-equity ratio of 10.80, a quick ratio of 1.56 and a current ratio of 2.57. The firm’s fifty day moving average is GBX 52.32 and its 200 day moving average is GBX 42.62.

Iofina (LON:IOF) last released its quarterly earnings results on Monday, September 21st. The company reported GBX 1.80 earnings per share for the quarter. Iofina had a net margin of 12.91% and a return on equity of 15.30%. As a group, equities research analysts anticipate that Iofina plc will post 1.82 earnings per share for the current fiscal 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.