IAMGOLD (NYSE:IAG) Stock Price Up 9.8% – Time to Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) rose 9.8% on Friday . The company traded as high as $5.87 and last traded at $5.84. Approximately 2,911,795 shares traded hands during trading, a decline of 68% from the average daily volume of 9,050,128 shares. The stock had previously closed at $5.32.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Scotiabank increased their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Stock Performance

The firm has a market capitalization of $3.21 billion, a P/E ratio of 4.47 and a beta of 1.57. The stock has a fifty day moving average of $5.26 and a 200-day moving average of $4.49. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter last year, the business earned ($0.01) earnings per share. On average, research analysts anticipate that IAMGOLD Co. will post 0.53 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Large investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in IAMGOLD in the third quarter valued at $29,000. Eastern Bank bought a new position in IAMGOLD during the third quarter worth about $30,000. TIAA Trust National Association acquired a new position in IAMGOLD during the second quarter worth approximately $38,000. International Assets Investment Management LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at approximately $700,000. Finally, WINTON GROUP Ltd bought a new position in shares of IAMGOLD during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds 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.