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Iofina plc ( (GB:IOF) ) has shared an announcement.
Iofina plc has announced an agreement with Western Midstream Partners to develop a new IOsorb® plant in the Permian Basin, which will utilize the company’s WET IOsorb® technology to extract iodine from produced water. This new facility, expected to be operational in the second half of 2026, will double the brine water processing capacity to 50,000 barrels per day and is projected to become Iofina’s largest producing plant. The partnership with Western Midstream, a leader in produced water infrastructure, is a strategic move to enhance Iofina’s production capabilities and expand its presence in the Permian Basin, a significant area for U.S. crude oil production.
The most recent analyst rating on (GB:IOF) stock is a Hold with a £21.50 price target. To see the full list of analyst forecasts on Iofina plc stock, see the GB:IOF Stock Forecast page.
Spark’s Take on GB:IOF Stock
According to Spark, TipRanks’ AI Analyst, GB:IOF is a Neutral.
Iofina plc’s overall stock score is primarily influenced by its stable financial position and reasonable valuation. However, the bearish technical indicators and declining profitability margins present significant risks. The company needs to address these challenges to improve its stock performance.
To see Spark’s full report on GB:IOF stock, click here.
More about Iofina plc
Iofina plc is a vertically integrated company specializing in the production of iodine and the manufacturing of specialty chemical products. It is the second largest producer of iodine in North America and operates through its entities Iofina Resources and Iofina Chemical. Iofina Resources focuses on developing and operating iodine extraction plants using the company’s WET IOsorb® technology, while Iofina Chemical manufactures high-quality halogen specialty chemicals.
Average Trading Volume: 330,404
Technical Sentiment Signal: Sell
Current Market Cap: £41.73M
Learn more about IOF stock on TipRanks’ Stock Analysis page.