IAMGOLD (NYSE:IAG) Trading Up 7.4% - What's Next?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG rose 7.4% on Friday . The stock traded as high as $5.53 and last traded at $5.49. Approximately 2,193,745 shares changed hands during trading, a decline of 76% from the average daily volume of 9,030,726 shares. The stock had previously closed at $5.11.

Analysts Set New Price Targets

IAG has been the topic of several recent research reports. StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. CIBC raised their target price on IAMGOLD from $4.90 to $5.40 and gave the company a "neutral" rating in a report on Monday, August 12th. National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Finally, Scotiabank lifted their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.73.

IAMGOLD Stock Up 16.7 %

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 price of $5.06 and a 200 day moving average price of $4.28. The firm has a market capitalization of $3.40 billion, a P/E ratio of 21.39 and a beta of 1.59.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million for the quarter. During the same period last year, the business earned ($0.01) earnings per share. On average, analysts predict that IAMGOLD Co. will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently modified their holdings of IAG. ORG Partners LLC bought a new stake in shares of IAMGOLD in the 3rd quarter valued at approximately $29,000. TIAA Trust National Association bought a new stake in IAMGOLD during the 2nd quarter worth approximately $38,000. Cetera Advisors LLC bought a new stake in IAMGOLD during the 1st quarter worth approximately $50,000. WINTON GROUP Ltd bought a new stake in IAMGOLD during the 2nd quarter worth approximately $52,000. Finally, Banque Cantonale Vaudoise bought a new stake in IAMGOLD during the 2nd quarter worth approximately $56,000. 47.08% of the stock is currently owned by 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.