Iofina (LON:IOF) Shares Up 7.2% – Time to Buy?

Iofina plc (LON:IOF)’s stock price shot up 7.2% on Wednesday . The company traded as high as GBX 48.51 and last traded at GBX 48.02. 485,777 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 653,821 shares. The stock had previously closed at GBX 44.80.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upgraded Iofina to a “buy” rating and upped their price target for the company from GBX 45 to GBX 60 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 60.

Iofina Stock Up 3.2%

The business has a 50-day simple moving average of GBX 39.63 and a two-hundred day simple moving average of GBX 30.13. The stock has a market capitalization of £93.05 million, a P/E ratio of 12.13 and a beta of 0.87. The company has a quick ratio of 1.56, a current ratio of 2.64 and a debt-to-equity ratio of 11.96.

Iofina (LON:IOF) last announced its quarterly earnings results on Thursday, April 30th. The company reported GBX 4.10 earnings per share for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The firm had revenue of GBX 6,651 million for the quarter. Equities research analysts forecast that Iofina plc will post 1.8160377 earnings per share for the current fiscal year.

About Iofina

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.