IAMGOLD (NYSE:IAG) Shares Gap Up to $3.33

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG)’s share price gapped up prior to trading on Monday . The stock had previously closed at $3.33, but opened at $3.52. IAMGOLD shares last traded at $3.54, with a volume of 2,228,805 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IAG. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Wednesday, January 3rd. CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.31.

Read Our Latest Stock Analysis on IAG

IAMGOLD Price Performance

The firm’s 50-day moving average price is $2.79 and its 200-day moving average price is $2.53. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.79 billion, a PE ratio of 19.03, a PEG ratio of 2.23 and a beta of 1.70.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. On average, equities analysts forecast that IAMGOLD Co. will post 0.04 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. purchased a new stake in shares of IAMGOLD during the 3rd quarter valued at about $916,000. Sprott Inc. raised its position in IAMGOLD by 888.7% in the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after purchasing an additional 1,150,000 shares during the period. Qube Research & Technologies Ltd raised its position in IAMGOLD by 54.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock worth $2,100,000 after purchasing an additional 344,691 shares during the period. Public Sector Pension Investment Board raised its position in IAMGOLD by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock worth $2,140,000 after purchasing an additional 8,485 shares during the period. Finally, Deutsche Bank AG raised its position in IAMGOLD by 2,614.5% in the 3rd quarter. Deutsche Bank AG now owns 723,018 shares of the mining company’s stock worth $1,554,000 after purchasing an additional 696,383 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

About IAMGOLD

(Get Free Report)

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.

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