Itafos (CVE:IFOS) Stock Price Down 23.4% – Here’s What Happened

Itafos Inc. (CVE:IFOS) shares fell 23.4% on Thursday. The company traded as low as C$1.60 and last traded at C$1.64. Approximately 663,295 shares were traded during trading, an increase of 349% from the average daily volume of 147,860 shares. The stock had previously closed at C$2.14.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial lowered their price target on Itafos from C$4.50 to C$3.75 and set an “outperform” rating on the stock in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$3.75.

Itafos Trading Down 22.9%

The firm has a market capitalization of C$321.39 million, a PE ratio of 6.35 and a beta of -0.05. The company has a quick ratio of 0.72, a current ratio of 2.12 and a debt-to-equity ratio of 19.32. The stock’s fifty day simple moving average is C$2.24 and its 200 day simple moving average is C$2.75.

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.