IAMGOLD (NYSE:IAG) Shares Gap Up - Should You Buy?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG gapped up prior to trading on Monday . The stock had previously closed at $4.94, but opened at $5.15. IAMGOLD shares last traded at $5.28, with a volume of 1,217,716 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. CIBC raised their price objective on IAMGOLD from $5.40 to $6.40 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Scotiabank lifted 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 raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Monday, November 11th. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $6.68.

IAMGOLD Stock Up 7.5 %

The company has a market cap of $3.03 billion, a P/E ratio of 4.18 and a beta of 1.57. The business's 50 day moving average price is $5.29 and its 200-day moving average price is $4.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in IAMGOLD by 1.0% in the first 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. Linscomb Wealth Inc. acquired a new stake in shares of IAMGOLD during the first quarter worth about $67,000. Virtu Financial LLC lifted its holdings in shares of IAMGOLD by 1,034.3% during the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company's stock valued at $1,132,000 after purchasing an additional 309,836 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of IAMGOLD in the 1st quarter valued at approximately $50,000. Finally, Continuum Advisory LLC increased its stake in IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company's stock worth $77,000 after purchasing an additional 9,850 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.