IAMGOLD (NYSE:IAG) Shares Down 4.4%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price dropped 4.4% on Monday . The stock traded as low as $3.44 and last traded at $3.50. Approximately 5,588,067 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 8,905,802 shares. The stock had previously closed at $3.66.

Analysts Set New Price Targets

Several analysts have commented on IAG shares. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets increased 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. Scotiabank lifted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Finally, CIBC raised their price target 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Up 6.0 %

The firm’s 50-day simple moving average is $3.14 and its two-hundred day simple moving average is $2.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 0.90 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Sell-side analysts predict that IAMGOLD Co. will post 0.1 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new stake in IAMGOLD during the 4th quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD in the 4th quarter valued at $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in IAMGOLD in the fourth quarter worth about $33,000. Koshinski Asset Management Inc. purchased a new position in IAMGOLD in the fourth quarter valued at about $34,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of IAMGOLD during the 3rd quarter valued at approximately $32,000. 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.