IAMGOLD (NYSE:IAG) Trading 4.4% Higher – Still a Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shares traded up 4.4% during mid-day trading on Monday . The company traded as high as $6.54 and last traded at $6.52. 3,776,463 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 11,583,882 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

Several research analysts have commented on IAG shares. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Finally, Raymond James decreased their target price on shares of IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Up 4.7 %

The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 5.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The business’s 50-day moving average is $5.51 and its 200-day moving average is $5.18.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the previous year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that IAMGOLD Co. will post 0.58 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tobam acquired a new stake in IAMGOLD in the fourth quarter worth about $25,000. ORG Partners LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank bought a new stake in shares of IAMGOLD during the third quarter worth approximately $30,000. Blue Trust Inc. raised its stake in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after buying an additional 5,511 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC acquired a new position in IAMGOLD in the fourth quarter valued at approximately $56,000. 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.