IAMGOLD (NYSE:IAG) Shares Up 7.4%

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

Wall Street Analyst Weigh In

IAG has been the subject of a number of analyst reports. CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. BMO Capital Markets upped their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Scotiabank upped 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, April 18th. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Performance

The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $3.19 and its two-hundred day moving average is $2.70. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 0.96 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $297.60 million during the quarter. As a group, sell-side analysts expect that IAMGOLD Co. will post 0.1 earnings per share for the current year.

Institutional Trading of IAMGOLD

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after buying an additional 1,368,491 shares during the period. Donald Smith & CO. Inc. raised its holdings in shares of IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after purchasing an additional 4,358,444 shares in the last quarter. Helikon Investments Ltd raised its holdings in shares of IAMGOLD by 250.5% in the 1st 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of IAMGOLD by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after purchasing an additional 363,051 shares in the last quarter. Finally, P Schoenfeld Asset Management LP raised its holdings in shares of IAMGOLD by 11.1% in the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after purchasing an additional 822,149 shares in the last quarter. Hedge funds and other 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.