IAMGOLD (NYSE:IAG) Shares Up 3.6% - What's Next?

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG rose 3.6% during mid-day trading on Wednesday . The stock traded as high as $6.25 and last traded at $6.26. Approximately 3,623,433 shares changed hands during trading, a decline of 62% from the average daily volume of 9,540,566 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. CIBC reissued an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.90.

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IAMGOLD Trading Down 2.3 %

The firm's 50-day moving average price is $5.99 and its 200 day moving average price is $5.59. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 4.33 and a beta of 1.63. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. As a group, equities analysts expect that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Trading of IAMGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tobam acquired a new stake in IAMGOLD in the fourth quarter valued at approximately $25,000. Blue Trust Inc. grew its position in IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new stake in IAMGOLD in the 4th quarter valued at $56,000. Atria Wealth Solutions Inc. bought a new stake in IAMGOLD during the 4th quarter valued at $68,000. Finally, Choreo LLC acquired a new position in IAMGOLD during the fourth quarter worth $88,000. 47.08% of the stock is 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.