IAMGOLD (NYSE:IAG) Trading Down 4.4%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price dropped 4.4% during mid-day trading on Monday . The stock traded as low as $3.44 and last traded at $3.50. Approximately 5,588,067 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 8,905,802 shares. The stock had previously closed at $3.66.

Analyst Ratings Changes

Several research firms recently issued reports on IAG. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. 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. CIBC lifted their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and a consensus price target of $3.55.

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 stock has a market capitalization of $1.84 billion, a P/E ratio of 19.47, a PEG ratio of 0.90 and a beta of 1.70. The business has a fifty day simple moving average of $3.14 and a 200-day simple moving average of $2.68.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating the consensus estimate 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. Sell-side analysts expect that IAMGOLD Co. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IAG. Raymond James Financial Services Advisors Inc. purchased a new position in IAMGOLD in the fourth quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new stake in IAMGOLD in the 4th quarter valued at about $29,000. Stratos Wealth Partners LTD. purchased a new stake in shares of IAMGOLD during the 3rd quarter valued at approximately $32,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of IAMGOLD during the fourth quarter worth $33,000. Finally, Koshinski Asset Management Inc. bought a new position in IAMGOLD in the 4th quarter worth about $34,000. 47.08% of the stock is owned by institutional investors.

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.