IAMGOLD (NYSE:IAG) Shares Gap Up to $5.23

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) gapped up before the market opened on Tuesday . The stock had previously closed at $5.23, but opened at $5.35. IAMGOLD shares last traded at $5.38, with a volume of 270,762 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IAG shares. Scotiabank increased their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. CIBC boosted their price target on IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.73.

IAMGOLD Stock Performance

The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.03 billion, a PE ratio of 19.04 and a beta of 1.58. The stock’s 50 day moving average price is $4.79 and its 200 day moving average price is $4.13.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast that IAMGOLD Co. will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in IAMGOLD by 8.2% in the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after buying an additional 3,935,250 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after purchasing an additional 298,959 shares during the last quarter. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. Vanguard Group Inc. increased its holdings in IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after purchasing an additional 168,302 shares during the last quarter. Finally, Polunin Capital Partners Ltd raised its position in shares of IAMGOLD by 12.1% in the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock valued at $29,954,000 after purchasing an additional 968,104 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.