IAMGOLD (NYSE:IAG) Sees Strong Trading Volume

IAMGOLD Co. (NYSE:IAGGet Rating) (TSE:IMG) shares saw an uptick in trading volume on Friday . 159,099 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 3,806,088 shares.The stock last traded at $1.17 and had previously closed at $1.20.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IAG. BMO Capital Markets dropped their price target on shares of IAMGOLD from $2.75 to $2.00 and set a “market perform” rating for the company in a research report on Thursday, August 4th. National Bank Financial dropped their price target on shares of IAMGOLD from C$3.25 to C$2.25 in a research report on Thursday, July 21st. Finally, StockNews.com lowered shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Monday, August 8th. Seven investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Reduce” and an average price target of $2.91.

IAMGOLD Trading Down 0.8 %

The company has a quick ratio of 1.13, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The firm has a market cap of $570.01 million, a price-to-earnings ratio of -2.20, a price-to-earnings-growth ratio of 40.00 and a beta of 1.32. The business’s fifty day moving average is $1.36 and its two-hundred day moving average is $2.21.

Institutional Trading of IAMGOLD

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Private Wealth Advisors acquired a new stake in shares of IAMGOLD in the first quarter valued at approximately $421,000. Bennicas & Associates Inc. boosted its stake in IAMGOLD by 9.3% in the first quarter. Bennicas & Associates Inc. now owns 64,766 shares of the mining company’s stock valued at $225,000 after acquiring an additional 5,500 shares during the last quarter. WMS Partners LLC boosted its stake in IAMGOLD by 151.1% in the first quarter. WMS Partners LLC now owns 83,100 shares of the mining company’s stock valued at $289,000 after acquiring an additional 50,000 shares during the last quarter. Kopernik Global Investors LLC boosted its stake in IAMGOLD by 35.7% in the first quarter. Kopernik Global Investors LLC now owns 10,512,493 shares of the mining company’s stock valued at $36,583,000 after acquiring an additional 2,767,673 shares during the last quarter. Finally, Loews Corp bought a new position in IAMGOLD in the first quarter valued at approximately $2,822,000. Institutional investors and hedge funds own 50.93% of the company’s stock.

About IAMGOLD

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IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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