IAMGOLD (NYSE:IAG) Stock Price Down 5.4% - Time to Sell?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's stock price traded down 5.4% on Friday . The company traded as low as $5.27 and last traded at $5.29. 5,146,494 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 8,894,920 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IAG shares. CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday, December 2nd. Scotiabank raised their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a report on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $7.75 to $10.50 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, Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $6.68.

IAMGOLD Stock Performance

The company has a market cap of $3.06 billion, a P/E ratio of 4.18 and a beta of 1.56. The business's 50 day simple moving average is $5.36 and its 200 day simple moving average is $4.70. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of IAMGOLD in the third quarter worth about $267,000. Toronto Dominion Bank lifted its holdings in IAMGOLD by 15.6% in the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company's stock worth $1,435,000 after purchasing an additional 37,005 shares in the last quarter. Geode Capital Management LLC grew its holdings in IAMGOLD by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock valued at $1,392,000 after buying an additional 6,874 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of IAMGOLD during the third quarter valued at approximately $1,083,000. Finally, XTX Topco Ltd lifted its holdings in shares of IAMGOLD by 84.5% in the third quarter. XTX Topco Ltd now owns 118,740 shares of the mining company's stock worth $621,000 after buying an additional 54,392 shares in the last quarter. Hedge funds and other institutional investors 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.