IAMGOLD (NYSE:IAG) Trading Down 4%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price dropped 4% during mid-day trading on Friday . The company traded as low as $5.29 and last traded at $5.30. Approximately 2,882,915 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 9,039,324 shares. The stock had previously closed at $5.52.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IAG shares. CIBC increased their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Scotiabank increased their price target on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.73.

IAMGOLD Trading Down 4.3 %

The company has a market capitalization of $3.01 billion, a P/E ratio of 18.86 and a beta of 1.58. The company has a 50-day simple moving average of $4.77 and a 200 day simple moving average of $4.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period last year, the firm posted ($0.01) EPS. Sell-side analysts expect that IAMGOLD Co. will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in the company. TIAA Trust National Association bought a new stake in shares of IAMGOLD in the 2nd quarter worth approximately $38,000. WINTON GROUP Ltd acquired a new stake in IAMGOLD during the second quarter worth $52,000. Banque Cantonale Vaudoise bought a new stake in IAMGOLD in the 2nd quarter valued at $56,000. Cetera Advisors LLC acquired a new position in shares of IAMGOLD in the 1st quarter valued at $50,000. Finally, Linscomb Wealth Inc. bought a new position in shares of IAMGOLD during the 1st quarter worth about $67,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.