IAMGOLD (NYSE:IAG) Trading Down 4%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price fell 4% on Friday . The company traded as low as $5.29 and last traded at $5.30. 2,882,915 shares changed hands during trading, a decline of 68% from the average session volume of 9,039,324 shares. The stock had previously closed at $5.52.

Wall Street Analyst Weigh In

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

IAMGOLD Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $4.72 and a two-hundred day moving average of $4.07. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 19.68 and a beta of 1.58.

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 analysts’ consensus estimates 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 in the prior year, the business earned ($0.01) EPS. On average, equities research analysts anticipate that IAMGOLD Co. will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the company. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after acquiring an additional 23,485,183 shares during the last quarter. Millennium Management LLC grew its position in shares of IAMGOLD by 194.2% in the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after purchasing an additional 5,204,715 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after purchasing an additional 3,935,250 shares in the last quarter. Norges Bank purchased a new position in shares of IAMGOLD during the 4th quarter worth approximately $8,642,000. Finally, Mackenzie Financial Corp raised its position in shares of IAMGOLD by 133.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock worth $11,246,000 after purchasing an additional 1,712,640 shares during the last quarter. Institutional investors and hedge funds 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.