IAMGOLD (NYSE:IAG) Shares Gap Down - Should You Sell?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG shares gapped down prior to trading on Monday . The stock had previously closed at $5.69, but opened at $5.36. IAMGOLD shares last traded at $5.23, with a volume of 2,154,074 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on IAG. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Scotiabank upped their target price on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a research note on Monday, August 19th. StockNews.com upgraded IAMGOLD from a "hold" rating to a "buy" rating in a report on Monday. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, CIBC upped their price target on shares of IAMGOLD from $5.40 to $6.40 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $6.68.

IAMGOLD Trading Down 8.2 %

The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average is $5.28 and its two-hundred day moving average is $4.52. The company has a market capitalization of $2.98 billion, a PE ratio of 4.08 and a beta of 1.57.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.08. The firm had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.92%. During the same quarter in the prior year, the business posted ($0.01) earnings per share. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.53 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Several large investors have recently bought and sold shares of IAG. Van ECK Associates Corp grew its holdings in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Donald Smith & CO. Inc. lifted its holdings in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company's stock valued at $120,137,000 after acquiring an additional 298,959 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock worth $58,871,000 after purchasing an additional 168,302 shares during the period. Millennium Management LLC increased its position in shares of IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock valued at $29,573,000 after acquiring an additional 5,204,715 shares during the last quarter. Finally, American Century Companies Inc. raised its position in IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock valued at $21,423,000 after purchasing an additional 1,270,608 shares during the period. Hedge funds and other institutional investors 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.