IAMGOLD (NYSE:IAG) Shares Up 4.2%

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG)’s stock price shot up 4.2% on Friday . The company traded as high as $2.47 and last traded at $2.46. 2,681,522 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 5,709,343 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IAG. CIBC raised IAMGOLD from a “sector underperform” rating to a “neutral” rating and set a $2.10 target price for the company in a research report on Tuesday, December 20th. TD Securities upped their price target on shares of IAMGOLD from C$3.25 to C$4.00 in a research report on Wednesday, December 21st. StockNews.com initiated coverage on shares of IAMGOLD in a research report on Thursday. They set a “sell” rating for the company. Raymond James upped their price target on shares of IAMGOLD from $2.00 to $2.25 and gave the company an “underperform” rating in a research report on Tuesday, January 31st. Finally, BMO Capital Markets upped their price target 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. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $2.68.

IAMGOLD Stock Up 5.5 %

The company has a current ratio of 2.35, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.19 billion, a P/E ratio of -16.60 and a beta of 1.42. The company has a 50 day simple moving average of $2.53 and a two-hundred day simple moving average of $1.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its stake in IAMGOLD by 0.3% in the 2nd 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 period. Kopernik Global Investors LLC boosted its stake in IAMGOLD by 1.0% in the 4th quarter. Kopernik Global Investors LLC now owns 24,042,429 shares of the mining company’s stock worth $62,029,000 after purchasing an additional 239,188 shares during the period. Renaissance Technologies LLC raised its holdings in shares of IAMGOLD by 7.3% during the 2nd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of IAMGOLD by 2.9% during the 3rd 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of IAMGOLD during the 4th quarter worth approximately $12,557,000. 48.57% of the stock is currently owned by institutional investors.

IAMGOLD Company Profile

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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.