Iamgold (NYSE:IAG) Shares Gap Down – What’s Next?

Iamgold Corporation (NYSE:IAG) (TSE:IMG) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.68, but opened at $18.17. Iamgold shares last traded at $19.0540, with a volume of 625,385 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Scotiabank upped their price target on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Iamgold Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $20.46 and its 200 day moving average is $16.50. The company has a market cap of $11.37 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. As a group, research analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the sale, the director directly owned 20,000 shares in the company, valued at approximately $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Iamgold

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Tsfg LLC purchased a new stake in shares of Iamgold during the third quarter worth approximately $26,000. Banque Transatlantique SA purchased a new position in Iamgold in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold during the 4th quarter worth $30,000. Global Retirement Partners LLC acquired a new stake in Iamgold during the 4th quarter worth $33,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Iamgold during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.