IAMGOLD (NYSE:IAG) Trading 7.4% Higher

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) traded up 7.4% during trading on Tuesday . The company traded as high as $3.75 and last traded at $3.75. 8,832,909 shares were traded during mid-day trading, a decline of 2% from the average session volume of 8,991,098 shares. The stock had previously closed at $3.49.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Scotiabank lifted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. CIBC lifted their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The firm’s 50 day moving average is $3.11 and its 200-day moving average is $2.67. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.46 and a beta of 1.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million during the quarter. Analysts forecast that IAMGOLD Co. will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in IAG. Helikon Investments Ltd increased its holdings in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after acquiring an additional 23,485,183 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after acquiring an additional 4,358,444 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in IAMGOLD in the 4th quarter worth $10,972,000. Norges Bank purchased a new stake in IAMGOLD in the 4th quarter worth $8,642,000. Finally, Van ECK Associates Corp increased its holdings in IAMGOLD by 4.0% in the 3rd quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock worth $100,513,000 after acquiring an additional 1,779,306 shares in the last quarter. 47.08% of the stock is currently 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.