IAMGOLD (TSE:IMG) Shares Down 5% – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price dropped 5% during trading on Friday . The company traded as low as C$8.10 and last traded at C$8.51. Approximately 424,203 shares changed hands during trading, a decline of 76% from the average daily volume of 1,769,132 shares. The stock had previously closed at C$8.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IMG shares. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. National Bankshares raised their price target on IAMGOLD from C$12.00 to C$13.50 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$8.68.

IAMGOLD Price Performance

The business has a fifty day moving average of C$8.26 and a 200 day moving average of C$7.52. The firm has a market cap of C$3.30 billion, a P/E ratio of 4.21, a PEG ratio of -0.28 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

Insider Buying and Selling

In other IAMGOLD news, Senior Officer Timothy Bradburn sold 16,800 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total transaction of C$136,080.00. 0.10% of the stock is owned by insiders.

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.