IAMGOLD (NYSE:IAG) Stock Price Down 3.1% - Time to Sell?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's stock price was down 3.1% on Tuesday . The stock traded as low as $5.21 and last traded at $5.30. Approximately 1,622,653 shares changed hands during trading, a decline of 82% from the average daily volume of 8,917,976 shares. The stock had previously closed at $5.47.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cibc World Mkts upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. 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. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Wednesday, January 1st. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.68.

IAMGOLD Price Performance

The company's fifty day moving average is $5.38 and its 200 day moving average is $5.00. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 4.36 and a beta of 1.56.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in IAG. JPMorgan Chase & Co. boosted its stake in shares of IAMGOLD by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after acquiring an additional 604,259 shares during the period. Virtu Financial LLC bought a new stake in IAMGOLD in the 3rd quarter valued at about $267,000. Toronto Dominion Bank grew its position in IAMGOLD by 15.6% during the third quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company's stock worth $1,435,000 after buying an additional 37,005 shares in the last quarter. Geode Capital Management LLC increased its position in shares of IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock worth $1,392,000 after purchasing an additional 6,874 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in IAMGOLD during the third quarter worth about $1,083,000. Institutional investors and hedge funds own 47.08% of the company's stock.

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.