TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Itafos ( (TSE:IFOS) ) just unveiled an update.
Itafos Inc. has completed the sale of its Araxá project in Brazil to St George Mining Limited, receiving $10 million and a 10% equity stake in St George. This strategic move aligns with Itafos’ focus on enhancing shareholder value by divesting non-core assets, while maintaining an indirect interest in the Araxá project’s development potential in niobium and rare earth elements.
More about Itafos
Itafos Inc. is a phosphate and specialty fertilizer company headquartered in Houston, TX. It operates several businesses and projects, including vertically integrated phosphate fertilizer operations in Idaho, US, and Tocantins, Brazil, as well as high-grade phosphate mine projects in Guinea-Bissau and Pará, Brazil. The company’s shares are traded on the TSX-V under the ticker symbol ‘IFOS’, and its principal shareholder is CL Fertilizers Holding LLC, an affiliate of Castlelake, L.P., a global private investment firm.
YTD Price Performance: 18.00%
Average Trading Volume: 5,746
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $281.9M
See more data about IFOS stock on TipRanks’ Stock Analysis page.