IAMGOLD (NYSE:IAG) Shares Gap Down After Earnings Miss

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's share price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $6.31, but opened at $5.90. IAMGOLD shares last traded at $5.77, with a volume of 5,186,018 shares trading hands.

The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IAG shares. Raymond James upgraded IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. StockNews.com raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.57.

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Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tobam purchased a new stake in IAMGOLD in the 4th quarter worth about $25,000. Blue Trust Inc. grew its stake in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of IAMGOLD in the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. bought a new stake in shares of IAMGOLD during the 4th quarter worth approximately $68,000. Finally, International Assets Investment Management LLC purchased a new position in IAMGOLD during the 3rd quarter valued at $700,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

IAMGOLD Stock Down 3.7 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $5.77 and a 200 day simple moving average of $5.45. The company has a market cap of $3.18 billion, a P/E ratio of 3.84 and a beta of 1.56.

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.