IAMGOLD (NYSE:IAG) Shares Gap Up to $3.59

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.59, but opened at $3.71. IAMGOLD shares last traded at $3.73, with a volume of 1,142,362 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IAG shares. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets increased their price target on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. Scotiabank lifted their price objective on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, CIBC increased their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, IAMGOLD has an average rating of “Hold” and a consensus 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 stock has a market capitalization of $1.86 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.64 and a beta of 1.68. The stock has a 50 day moving average of $3.32 and a 200 day moving average of $2.76.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share 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 for the quarter. Equities analysts predict that IAMGOLD Co. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of IAG. Helikon Investments Ltd lifted its holdings in shares of IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the period. Donald Smith & CO. Inc. lifted 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 valued at $90,519,000 after acquiring an additional 4,358,444 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of IAMGOLD during the 4th quarter valued at about $10,972,000. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 8.2% in the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after purchasing an additional 3,935,250 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of IAMGOLD in the 4th quarter worth approximately $8,642,000. 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.