Itafos (CVE:IFOS) Downgraded by Raymond James Financial to “Outperform”

Itafos (CVE:IFOS) was downgraded by stock analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research note issued on Monday,BayStreet.CA reports. They presently have a C$4.50 target price on the stock, down from their prior target price of C$5.50. Raymond James Financial’s price target would suggest a potential upside of 71.76% from the stock’s current price.

Itafos Trading Down 6.8%

Shares of IFOS traded down C$0.19 during trading hours on Monday, reaching C$2.62. 273,678 shares of the company traded hands, compared to its average volume of 239,498. The firm has a market cap of C$510.32 million, a price-to-earnings ratio of 6.24 and a beta of 0.34. Itafos has a 12-month low of C$2.15 and a 12-month high of C$4.67. The company has a current ratio of 2.71, a quick ratio of 0.73 and a debt-to-equity ratio of 19.58. The stock’s fifty day moving average price is C$3.58 and its 200 day moving average price is C$3.27.

Itafos Company Profile

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.