IAMGOLD (NYSE:IAG) Trading Up 4.4% - Time to Buy?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $6.54 and last traded at $6.52. 3,776,463 shares changed hands during trading, a decline of 67% from the average session volume of 11,583,882 shares. The stock had previously closed at $6.24.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IAG. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. StockNews.com raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Thursday. Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday. CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $6.57.

IAMGOLD Stock Down 0.4 %

The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 5.04 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a fifty day moving average of $5.57 and a two-hundred day moving average of $5.22.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the previous year, the company posted ($0.01) EPS. Sell-side analysts anticipate that IAMGOLD Co. will post 0.58 earnings per share for the current year.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tobam bought a new stake in shares of IAMGOLD in the 4th quarter valued at $25,000. ORG Partners LLC bought a new stake in IAMGOLD during the third quarter valued at $29,000. Eastern Bank acquired a new stake in IAMGOLD during the 3rd quarter worth about $30,000. Blue Trust Inc. grew its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after acquiring an additional 5,511 shares during the period. Finally, Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD in the 4th quarter worth about $56,000. 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.