Iofina (LON:IOF) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Iofina stock broke above its 200‑day moving average, trading as high as GBX 45.50 and last at GBX 44.39 on volume of about 1.29 million shares.
• Canaccord upgraded Iofina to a "Buy" and raised its target to GBX 60, matching the consensus analyst rating of Buy and an average target price of GBX 60.
• Recent fundamentals show modest valuation and profitability: market cap £87.3M, P/E 11.38, quarterly EPS GBX 4.10, ROE ~14.9% and net margin ~11.8%, with current and quick ratios of 2.64 and 1.56 respectively.

Iofina plc (LON:IOF - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 25.80 and traded as high as GBX 45.50. Iofina shares last traded at GBX 44.39, with a volume of 1,293,103 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised Iofina to a "buy" rating and lifted their price objective for the company from GBX 45 to GBX 60 in a report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of GBX 60.

Iofina Stock Performance

The company has a 50 day moving average price of GBX 28.29 and a 200-day moving average price of GBX 25.80. The company has a current ratio of 2.64, a quick ratio of 1.56 and a debt-to-equity ratio of 11.96. The company has a market cap of £87.30 million, a P/E ratio of 11.38 and a beta of 0.91.

Iofina (LON:IOF - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported GBX 4.10 earnings per share (EPS) for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The company had revenue of GBX 6,651 million for the quarter. On average, equities analysts expect 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.

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