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

Shares of Iofina plc (LON:IOF) shot up 7.2% on Wednesday . The stock traded as high as GBX 48.51 and last traded at GBX 48.02. 485,777 shares were traded 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 Analysts Forecast Growth

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

Iofina Trading Up 7.2%

The company has a debt-to-equity ratio of 11.96, a quick ratio of 1.56 and a current ratio of 2.64. The stock’s 50-day simple moving average is GBX 38.66 and its 200-day simple moving average is GBX 29.75. The firm has a market capitalization of £92.13 million, a PE ratio of 12.01 and a beta of 0.87.

Iofina (LON:IOF) last announced its earnings results on Thursday, April 30th. The company reported GBX 4.10 earnings per share for the quarter. The firm had revenue of GBX 6,651 million for the quarter. Iofina had a net margin of 11.84% and a return on equity of 14.89%. As a group, sell-side analysts expect that Iofina plc will post 1.8160377 EPS 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.