IAMGOLD (NYSE:IAG) Shares Gap Up to $3.59

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $3.59, but opened at $3.71. IAMGOLD shares last traded at $3.73, with a volume of 1,142,362 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on IAG shares. CIBC lifted their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets upped their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Scotiabank lifted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Hold” and an average target price of $3.55.

IAMGOLD Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The company’s 50 day moving average price is $3.36 and its 200 day moving average price is $2.78. The firm has a market capitalization of $1.90 billion, a P/E ratio of 19.89, a PEG ratio of 0.64 and a beta of 1.68.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. As a group, sell-side analysts anticipate that IAMGOLD Co. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently bought and sold shares of the business. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after acquiring an additional 23,485,183 shares during the period. Donald Smith & CO. Inc. grew its position in shares of IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after purchasing an additional 4,358,444 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in IAMGOLD during the 4th quarter worth approximately $10,972,000. Van ECK Associates Corp raised its holdings in IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after buying an additional 3,935,250 shares during the period. Finally, Norges Bank bought a new position in IAMGOLD in the fourth quarter valued at approximately $8,642,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

About IAMGOLD

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.