IAMGOLD (IAG) Trading 5.6% Higher

IAMGOLD Corp (NYSE:IAG) (TSE:IMG) traded up 5.6% during mid-day trading on Thursday . The stock traded as high as $3.99 and last traded at $3.95. 6,555,448 shares were traded during mid-day trading, an increase of 67% from the average session volume of 3,927,297 shares. The stock had previously closed at $3.74.

A number of brokerages recently weighed in on IAG. Royal Bank of Canada set a $6.00 price objective on shares of IAMGOLD and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research lowered shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. TheStreet lowered shares of IAMGOLD from a “b” rating to a “c-” rating in a report on Friday, August 10th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $7.00 price objective on shares of IAMGOLD in a report on Friday, September 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. IAMGOLD has an average rating of “Hold” and a consensus price target of $7.13.

The company has a current ratio of 4.72, a quick ratio of 3.80 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.72 billion, a P/E ratio of 65.50, a PEG ratio of 7.48 and a beta of -0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 8th. The mining company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $277.40 million for the quarter, compared to the consensus estimate of $265.13 million. IAMGOLD had a net margin of 2.54% and a return on equity of 2.56%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Analysts anticipate that IAMGOLD Corp will post 0.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of IAG. Aperio Group LLC grew its position in shares of IAMGOLD by 59.7% in the 1st quarter. Aperio Group LLC now owns 61,179 shares of the mining company’s stock worth $318,000 after buying an additional 22,879 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of IAMGOLD by 67.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 118,779 shares of the mining company’s stock worth $616,000 after buying an additional 47,988 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of IAMGOLD by 48.4% in the 1st quarter. Russell Investments Group Ltd. now owns 501,915 shares of the mining company’s stock worth $2,602,000 after buying an additional 163,600 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of IAMGOLD in the 1st quarter worth approximately $108,000. Finally, UBS Group AG grew its position in shares of IAMGOLD by 3.0% in the 1st quarter. UBS Group AG now owns 1,060,971 shares of the mining company’s stock worth $5,506,000 after buying an additional 30,466 shares during the last quarter. 52.98% of the stock is currently owned by institutional investors and hedge funds.

About IAMGOLD (NYSE:IAG)

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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