IAMGOLD (NYSE:IAG) Trading Up 4.5%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price was up 4.5% on Wednesday . The stock traded as high as $3.73 and last traded at $3.70. Approximately 12,634,409 shares changed hands during trading, an increase of 41% from the average daily volume of 8,930,380 shares. The stock had previously closed at $3.54.

Analyst Ratings Changes

Several analysts recently weighed in on IAG shares. CIBC lifted their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets lifted their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.52.

IAMGOLD Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.23 and a beta of 1.70. The business has a fifty day moving average price of $3.02 and a 200 day moving average price of $2.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million during the quarter. As a group, research analysts anticipate that IAMGOLD Co. will post 0.07 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC bought a new stake in IAMGOLD during the 4th quarter worth $25,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $26,000. Hsbc Holdings PLC bought a new stake in shares of IAMGOLD in the 3rd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $29,000. Finally, Citigroup Inc. bought a new stake in shares of IAMGOLD in the 1st quarter valued at about $31,000. Institutional investors own 47.08% of the company’s stock.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.