IAMGOLD (NYSE:IAG) Shares Gap Up to $2.13

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) shares gapped up prior to trading on Monday . The stock had previously closed at $2.13, but opened at $2.26. IAMGOLD shares last traded at $2.30, with a volume of 862,750 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on IAG. Stifel Nicolaus upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Tuesday, December 20th. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Monday, February 20th. TD Securities boosted their price objective on shares of IAMGOLD from C$3.25 to C$4.00 in a research report on Wednesday, December 21st. BMO Capital Markets boosted their price objective on shares of IAMGOLD from $1.75 to $2.00 and gave the company a “market perform” rating in a research report on Tuesday, December 20th. Finally, CIBC upgraded shares of IAMGOLD from a “sector underperform” rating to a “neutral” rating and set a $2.10 price objective on the stock in a research report on Tuesday, December 20th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.68.

IAMGOLD Trading Up 0.4 %

The stock’s fifty day moving average price is $2.54 and its 200 day moving average price is $1.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 2.04. The stock has a market capitalization of $1.13 billion, a P/E ratio of -15.73 and a beta of 1.42.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. grew its holdings in shares of IAMGOLD by 0.3% in the second quarter. Donald Smith & CO. Inc. now owns 40,099,242 shares of the mining company’s stock worth $64,560,000 after purchasing an additional 138,370 shares during the last quarter. Kopernik Global Investors LLC lifted its stake in IAMGOLD by 1.0% in the fourth quarter. Kopernik Global Investors LLC now owns 24,042,429 shares of the mining company’s stock worth $62,029,000 after acquiring an additional 239,188 shares during the period. Renaissance Technologies LLC lifted its stake in IAMGOLD by 7.3% in the second quarter. Renaissance Technologies LLC now owns 18,687,300 shares of the mining company’s stock worth $30,087,000 after acquiring an additional 1,268,700 shares during the period. Vanguard Group Inc. lifted its stake in IAMGOLD by 2.9% in the third quarter. Vanguard Group Inc. now owns 16,240,870 shares of the mining company’s stock worth $17,378,000 after acquiring an additional 460,969 shares during the period. Finally, Norges Bank purchased a new stake in IAMGOLD in the fourth quarter worth about $12,557,000. 48.57% of the stock is currently owned by institutional investors.

About IAMGOLD

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.