IAMGOLD (NYSE:IAG) Shares Down 3.1%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was down 3.1% during trading on Wednesday . The company traded as low as $2.22 and last traded at $2.22. Approximately 302,883 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 4,198,407 shares. The stock had previously closed at $2.29.

Analyst Ratings Changes

A number of research analysts have commented on IAG shares. Royal Bank of Canada raised shares of IAMGOLD from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $1.75 to $2.75 in a research report on Tuesday, September 12th. CSFB decreased their target price on shares of IAMGOLD from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. TD Securities decreased their target price on shares of IAMGOLD from $6.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday, August 14th. Raymond James cut their price target on shares of IAMGOLD from $3.25 to $3.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 31st. Finally, BMO Capital Markets cut their price target on shares of IAMGOLD from $3.25 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Hold” and an average target price of $3.23.

IAMGOLD Price Performance

The stock’s 50 day moving average is $2.32 and its two-hundred day moving average is $2.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.17. The stock has a market capitalization of $1.14 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 6.21 and a beta of 1.46.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Friday, November 10th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $224.50 million during the quarter. IAMGOLD had a return on equity of 0.38% and a net margin of 14.24%. During the same period last year, the company earned ($0.03) earnings per share. As a group, sell-side analysts forecast that IAMGOLD Co. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently modified their holdings of IAG. Hsbc Holdings PLC purchased a new position in IAMGOLD in the 3rd quarter valued at $28,000. Citigroup Inc. purchased a new position in IAMGOLD in the 1st quarter valued at $31,000. Stratos Wealth Partners LTD. acquired a new stake in IAMGOLD in the third quarter valued at $32,000. ExodusPoint Capital Management LP acquired a new stake in IAMGOLD in the second quarter valued at $39,000. Finally, First Trust Advisors LP acquired a new stake in IAMGOLD in the first quarter valued at $40,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa.