IAMGOLD (NYSE:IAG) Trading Up 4.5%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price was up 4.5% during mid-day trading on Friday . The stock traded as high as $5.56 and last traded at $5.55. Approximately 4,661,842 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 8,990,662 shares. The stock had previously closed at $5.31.

Wall Street Analysts Forecast Growth

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

IAMGOLD Trading Up 2.6 %

The company has a fifty day simple moving average of $4.61 and a 200-day simple moving average of $4.00. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 18.95 and a beta of 1.58. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The business had revenue of $385.30 million during the quarter. During the same quarter last year, the company posted ($0.01) EPS. On average, research analysts forecast that IAMGOLD Co. will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the business. TIAA Trust National Association acquired a new position in IAMGOLD in the 2nd quarter valued at $38,000. Dynamic Technology Lab Private Ltd acquired a new position in IAMGOLD during the fourth quarter worth $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at $33,000. WINTON GROUP Ltd acquired a new stake in shares of IAMGOLD in the 2nd quarter valued at $52,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of IAMGOLD in the 2nd quarter worth about $56,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.