IAMGOLD (NYSE:IAG) Shares Gap Up to $3.33

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG) shares gapped up before the market opened on Monday . The stock had previously closed at $3.33, but opened at $3.52. IAMGOLD shares last traded at $3.54, with a volume of 2,228,805 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IAG shares. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Wednesday, January 3rd. StockNews.com lowered shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Finally, CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.31.

Check Out Our Latest Stock Report on IAMGOLD

IAMGOLD Stock Down 1.0 %

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 business’s 50 day simple moving average is $2.79 and its 200 day simple moving average is $2.53. The company has a market capitalization of $1.79 billion, a PE ratio of 19.03, a P/E/G ratio of 2.23 and a beta of 1.70.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last issued 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. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million for the quarter. As a group, analysts anticipate that IAMGOLD Co. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of IAMGOLD by 416.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after acquiring an additional 1,960,562 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of IAMGOLD by 2.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after acquiring an additional 11,047 shares during the period. Private Advisor Group LLC purchased a new stake in shares of IAMGOLD in the 1st quarter valued at approximately $41,000. Citigroup Inc. purchased a new stake in shares of IAMGOLD in the 1st quarter valued at approximately $31,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of IAMGOLD by 23.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after acquiring an additional 6,913 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Company Profile

(Get Free Report)

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.

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