Itafos (CVE:IFOS) Stock Price Down 9.6% – What’s Next?

Shares of Itafos Inc. (CVE:IFOS) dropped 9.6% during trading on Friday . The company traded as low as C$3.56 and last traded at C$3.57. Approximately 398,629 shares were traded during mid-day trading, an increase of 68% from the average daily volume of 237,407 shares. The stock had previously closed at C$3.95.

Itafos Price Performance

The company has a quick ratio of 0.73, a current ratio of 2.57 and a debt-to-equity ratio of 25.90. The stock has a market capitalization of C$670.53 million, a price-to-earnings ratio of 5.34 and a beta of 0.45. The business’s 50 day simple moving average is C$3.27 and its 200-day simple moving average is C$3.10.

Insider Transactions at Itafos

In other news, Director Stephen Lawrence Shapiro acquired 11,900 shares of the stock in a transaction on Wednesday, December 24th. The stock was acquired at an average cost of C$2.96 per share, for a total transaction of C$35,224.00. Following the completion of the transaction, the director directly owned 81,354 shares in the company, valued at approximately C$240,807.84. This trade represents a 17.13% increase in their ownership of the stock. Insiders have purchased 20,000 shares of company stock valued at $59,255 over the last quarter. Company insiders own 67.42% of the company’s stock.

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.