IAMGOLD (NYSE:IAG) Shares Up 4.9%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price shot up 4.9% during trading on Thursday . The stock traded as high as $5.25 and last traded at $5.18. 1,314,010 shares were traded during trading, a decline of 85% from the average session volume of 9,022,221 shares. The stock had previously closed at $4.94.

Analysts Set New Price Targets

Several research firms have commented on IAG. Scotiabank lifted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. CIBC raised their price target on shares of IAMGOLD from $4.90 to $5.40 and gave the stock 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 note on Saturday, August 17th. Finally, BMO Capital Markets restated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.33.

IAMGOLD Price Performance

The firm has a market capitalization of $3.03 billion, a PE ratio of 18.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The business’s 50 day moving average is $4.46 and its two-hundred day moving average is $3.89.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IAG. Dynamic Technology Lab Private Ltd purchased a new position in shares of IAMGOLD during the 4th quarter valued at $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of IAMGOLD during the 4th quarter valued at $33,000. TIAA Trust National Association purchased a new position in shares of IAMGOLD during the 2nd quarter valued at $38,000. Cetera Advisors LLC purchased a new position in shares of IAMGOLD during the 1st quarter valued at $50,000. Finally, WINTON GROUP Ltd bought a new stake in shares of IAMGOLD during the 2nd quarter worth $52,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

About IAMGOLD

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.