IAMGOLD (NYSE:IAG) Shares Gap Up – What’s Next?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.81, but opened at $6.16. IAMGOLD shares last traded at $6.51, with a volume of 5,543,143 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on IAG. Raymond James reiterated a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Finally, CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.23.

IAMGOLD Stock Up 8.5 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm’s 50-day moving average price is $6.03 and its 200 day moving average price is $5.63. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 4.35 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Sell-side analysts expect that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IAG. Tobam purchased a new stake in IAMGOLD during the fourth quarter valued at about $25,000. Blue Trust Inc. raised its holdings in IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after buying an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new position in IAMGOLD during the fourth quarter valued at approximately $56,000. Atria Wealth Solutions Inc. acquired a new stake in shares of IAMGOLD in the fourth quarter worth $68,000. Finally, Choreo LLC purchased a new position in shares of IAMGOLD in the 4th quarter valued at $88,000. 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.