IAMGOLD (NYSE:IAG) Shares Gap Up to $3.59

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shares gapped up prior to trading on Monday . The stock had previously closed at $3.59, but opened at $3.71. IAMGOLD shares last traded at $3.73, with a volume of 1,142,362 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on IAG. BMO Capital Markets upped their price target on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a report on Friday, April 5th. Scotiabank increased their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market capitalization of $1.90 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The firm has a 50 day moving average price of $3.36 and a two-hundred day moving average price of $2.78.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The firm had revenue of $297.60 million during the quarter. On average, research analysts expect that IAMGOLD Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in IAMGOLD during the 1st quarter worth about $389,000. BNP Paribas Financial Markets raised its stake in shares of IAMGOLD by 326.7% in the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of IAMGOLD by 8.2% during the first 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. Polunin Capital Partners Ltd grew its stake in shares of IAMGOLD by 12.1% during the first 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 during the last quarter. Finally, Helikon Investments Ltd increased its holdings in shares of IAMGOLD by 250.5% in the first 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. 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.