IAMGOLD (NYSE:IAG) Sees Unusually-High Trading Volume

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw unusually-high trading volume on Friday . Approximately 3,224,355 shares were traded during mid-day trading, a decline of 62% from the previous session’s volume of 8,377,573 shares.The stock last traded at $3.84 and had previously closed at $3.76.

Analysts Set New Price Targets

IAG has been the topic of several recent research reports. BMO Capital Markets increased their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a report on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. CIBC boosted their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, IAMGOLD currently has a consensus rating of “Hold” and a consensus target price of $3.52.

IAMGOLD Stock Performance

The firm’s 50 day moving average is $2.98 and its 200 day moving average is $2.60. 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 stock has a market cap of $1.79 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results 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 net margin of 9.55% and a return on equity of 1.97%. The business had revenue of $297.60 million for the quarter. Analysts anticipate that IAMGOLD Co. will post 0.07 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of IAMGOLD by 416.9% during the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock worth $8,459,000 after purchasing an additional 1,960,562 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in IAMGOLD by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after buying an additional 11,047 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of IAMGOLD in the first quarter worth about $41,000. Citigroup Inc. acquired a new position in shares of IAMGOLD in the first quarter worth about $31,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of IAMGOLD by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock worth $137,000 after acquiring an additional 6,913 shares in the last quarter. Institutional investors and hedge funds 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.