IAMGOLD (NYSE:IAG) Shares Up 9.8% - Time to Buy?

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG traded up 9.8% during trading on Friday . The stock traded as high as $5.87 and last traded at $5.84. 2,911,795 shares were traded during mid-day trading, a decline of 68% from the average session volume of 9,050,128 shares. The stock had previously closed at $5.32.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of IAMGOLD from a "sell" rating to a "hold" rating in a research note on Saturday, August 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.68.

IAMGOLD Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The business has a 50-day moving average of $5.28 and a 200-day moving average of $4.51. The company has a market capitalization of $3.25 billion, a P/E ratio of 22.76 and a beta of 1.57.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million during the quarter. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, sell-side analysts anticipate that IAMGOLD Co. will post 0.53 EPS for the current year.

Institutional Trading of IAMGOLD

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in shares of IAMGOLD by 326.7% in the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company's stock valued at $2,029,000 after purchasing an additional 466,620 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of IAMGOLD during the 1st quarter worth $389,000. Vanguard Group Inc. boosted its position in IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock valued at $58,871,000 after purchasing an additional 168,302 shares in the last quarter. Donald Smith & CO. Inc. grew its stake 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 purchasing an additional 298,959 shares during the last quarter. Finally, Linscomb Wealth Inc. bought a new position in IAMGOLD in the first quarter worth about $67,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About IAMGOLD

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.