IAMGOLD (NYSE:IAG) Shares Up 4.5%

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) were up 4.5% on Wednesday . The stock traded as high as $3.73 and last traded at $3.70. Approximately 12,634,409 shares traded hands during mid-day trading, an increase of 41% from the average daily volume of 8,930,380 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

IAG has been the subject of a number of research analyst reports. Scotiabank upped 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. CIBC upped their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. BMO Capital Markets boosted their price objective on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a report on Friday, April 5th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Up 0.5 %

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.26 and a beta of 1.70. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $2.64.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million for the quarter. On average, equities analysts predict that IAMGOLD Co. will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

Hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC acquired a new position in IAMGOLD in the fourth quarter worth approximately $25,000. Raymond James Financial Services Advisors Inc. bought a new stake in IAMGOLD during the fourth quarter worth approximately $26,000. Hsbc Holdings PLC bought a new stake in IAMGOLD during the third quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd bought a new stake in IAMGOLD during the fourth quarter worth approximately $29,000. Finally, Citigroup Inc. bought a new stake in IAMGOLD during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.