IAMGOLD (NYSE:IAG) Trading Up 4.5%

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

Wall Street Analyst Weigh In

Several research firms recently commented on IAG. Scotiabank boosted their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday. BMO Capital Markets boosted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of 19.42, a PEG ratio of 1.26 and a beta of 1.70. 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 50 day moving average price of $3.07 and a 200 day moving average price of $2.64.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $297.60 million for the quarter. Equities analysts forecast that IAMGOLD Co. will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Helikon Investments Ltd increased its holdings in shares of IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares during the period. Vanguard Group Inc. boosted its stake in IAMGOLD by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock valued at $44,302,000 after buying an additional 135,524 shares in the last quarter. Virtu Financial LLC bought a new position in IAMGOLD during the fourth quarter valued at about $76,000. D L Carlson Investment Group Inc. bought a new position in IAMGOLD during the fourth quarter valued at about $34,000. Finally, Barclays PLC boosted its stake in IAMGOLD by 307.9% during the fourth quarter. Barclays PLC now owns 1,196,710 shares of the mining company’s stock valued at $3,028,000 after buying an additional 903,347 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.