Investors Buy High Volume of Call Options on IAMGOLD (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG was the recipient of some unusual options trading activity on Wednesday. Investors bought 12,906 call options on the company. This represents an increase of approximately 373% compared to the average volume of 2,729 call options.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently modified their holdings of the stock. Tobam purchased a new position in IAMGOLD during the fourth quarter worth $25,000. Blue Trust Inc. boosted its position in IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC bought a new position in IAMGOLD in the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. purchased a new stake in IAMGOLD in the fourth quarter worth about $68,000. Finally, Alpha Omega Wealth Management LLC purchased a new position in IAMGOLD during the first quarter valued at approximately $75,000. Institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on IAG shares. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Raymond James restated a "market perform" rating and issued a $8.00 price target on shares of IAMGOLD in a research note on Friday, April 4th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Scotiabank raised their price target on IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a report on Monday, April 14th. Finally, CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.57.

IAMGOLD Price Performance

Shares of IAG stock traded down $0.28 on Friday, reaching $7.82. The company's stock had a trading volume of 18,092,273 shares, compared to its average volume of 10,058,842. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 5.39 and a beta of 1.52. The stock's fifty day simple moving average is $6.19 and its 200-day simple moving average is $5.74. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a 1 year low of $3.44 and a 1 year high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million for the quarter, compared to analysts' expectations of $498.68 million. Analysts forecast that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

IAMGOLD Company Profile

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.