IAMGOLD (IAG) Shares Gap Up to $5.16

Shares of IAMGOLD Corp (NYSE:IAG) (TSE:IMG) gapped up prior to trading on Friday . The stock had previously closed at $4.99, but opened at $5.16. IAMGOLD shares last traded at $5.24, with a volume of 4870420 shares changing hands.

Several equities analysts have commented on the stock. Canaccord Genuity upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of IAMGOLD from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. BMO Capital Markets downgraded shares of IAMGOLD to a “hold” rating in a research note on Friday, February 16th. CIBC set a $7.50 price target on shares of IAMGOLD and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. Finally, Desjardins restated a “buy” rating on shares of IAMGOLD in a research note on Monday, December 11th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.07.

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The firm has a market cap of $2,441.20, a PE ratio of 4.90, a PEG ratio of 16.79 and a beta of -0.17. The company has a quick ratio of 4.16, a current ratio of 5.02 and a debt-to-equity ratio of 0.14.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, February 21st. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The firm had revenue of $291.10 million for the quarter, compared to analysts’ expectations of $280.04 million. IAMGOLD had a return on equity of 1.08% and a net margin of 45.81%. IAMGOLD’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. sell-side analysts anticipate that IAMGOLD Corp will post 0.1 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in IAG. James Investment Research Inc. purchased a new stake in shares of IAMGOLD during the 4th quarter worth $105,000. Fox Run Management L.L.C. lifted its position in shares of IAMGOLD by 121.2% during the 4th quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock worth $153,000 after purchasing an additional 14,425 shares during the last quarter. U S Global Investors Inc. lifted its position in shares of IAMGOLD by 113.9% during the 3rd quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock worth $177,000 after purchasing an additional 15,419 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of IAMGOLD during the 3rd quarter worth $177,000. Finally, Aperio Group LLC purchased a new stake in shares of IAMGOLD during the 4th quarter worth $223,000. 57.38% of the stock is owned by institutional investors and hedge funds.

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About IAMGOLD

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

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