IAMGOLD (NYSE:IAG) Hits New 1-Year High at $3.84

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) reached a new 52-week high during trading on Thursday . The stock traded as high as $3.84 and last traded at $3.83, with a volume of 2044767 shares changing hands. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IAG shares. CIBC increased their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets increased their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, IAMGOLD presently has an average rating of “Hold” and a consensus price target of $3.52.

IAMGOLD Stock Down 4.1 %

The company’s 50-day simple moving average is $2.96 and its two-hundred day simple moving average is $2.59. 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 firm has a market cap of $1.79 billion, a PE ratio of 18.95, a PEG ratio of 1.63 and a beta of 1.70.

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

Institutional Investors Weigh In On IAMGOLD

Institutional investors and hedge funds have recently modified their holdings of the stock. Vident Advisory LLC purchased a new stake in shares of IAMGOLD in the 4th quarter worth about $25,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of IAMGOLD in the 4th quarter worth about $26,000. Hsbc Holdings PLC bought a new position in shares of IAMGOLD in the 3rd quarter worth about $28,000. Dynamic Technology Lab Private Ltd bought a new position in shares of IAMGOLD in the 4th quarter worth about $29,000. Finally, Citigroup Inc. bought a new position in shares of IAMGOLD in the 1st quarter worth about $31,000. 47.08% of the stock is 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.