IAMGOLD (NYSE:IAG) Trading Up 4.5%

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) were up 4.5% on Wednesday . The stock traded as high as $3.73 and last traded at $3.70. Approximately 12,634,409 shares changed hands during trading, an increase of 41% from the average daily volume of 8,930,380 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IAG shares. CIBC increased their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock 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 research report on Wednesday, April 10th. BMO Capital Markets increased their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.52.

IAMGOLD Price Performance

The company has a 50 day moving average of $3.02 and a 200-day moving average of $2.63. The stock has a market capitalization of $1.82 billion, a P/E ratio of 18.63, a PEG ratio of 1.23 and a beta of 1.70. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company 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%. Sell-side analysts predict that IAMGOLD Co. will post 0.07 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC bought a new stake in IAMGOLD in the fourth quarter valued at $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of IAMGOLD during the fourth quarter valued at $26,000. Hsbc Holdings PLC acquired a new position in shares of IAMGOLD during the third quarter valued at $28,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the fourth quarter valued at $29,000. Finally, Citigroup Inc. acquired a new position in shares of IAMGOLD during the first quarter valued at $31,000. 47.08% of the stock is currently owned by institutional investors.

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.