IAMGOLD (NYSE:IAG) Trading 7.4% Higher

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) traded up 7.4% during mid-day trading on Tuesday . The stock traded as high as $3.75 and last traded at $3.75. 8,832,909 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 8,991,098 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

A number of analysts recently weighed in on IAG shares. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Scotiabank boosted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets boosted their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Price Performance

The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $3.11 and its 200-day moving average is $2.67. The company has a market cap of $1.84 billion, a PE ratio of 19.79, a PEG ratio of 1.46 and a beta of 1.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The business had revenue of $297.60 million for the quarter. On average, equities analysts anticipate that IAMGOLD Co. will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Helikon Investments Ltd lifted its stake in shares of IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares in the last quarter. P Schoenfeld Asset Management LP lifted its stake in shares of IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after buying an additional 822,149 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of IAMGOLD by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock worth $1,138,000 after buying an additional 14,620 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of IAMGOLD by 2.8% in the fourth quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock worth $3,135,000 after buying an additional 33,959 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of IAMGOLD by 35.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 270,000 shares of the mining company’s stock worth $681,000 after buying an additional 70,000 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.