IAMGOLD (NYSE:IAG) Hits New 1-Year High - Here's What Happened

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG reached a new 52-week high on Friday . The company traded as high as $7.09 and last traded at $6.87, with a volume of 34355816 shares. The stock had previously closed at $6.51.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IAG. National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. BMO Capital Markets assumed coverage on IAMGOLD in a research report on Wednesday. They issued an "outperform" rating for the company. Raymond James reaffirmed a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a research note on Friday, April 4th. Scotiabank increased their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a research note on Monday. Finally, StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Stock Up 11.6 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.75 billion, a P/E ratio of 5.72 and a beta of 1.52. The firm's 50 day moving average is $6.10 and its two-hundred day moving average is $5.69.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, research analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in IAMGOLD during the 3rd quarter valued at $114,000. Public Employees Retirement System of Ohio acquired a new position in shares of IAMGOLD in the third quarter valued at approximately $1,083,000. Geode Capital Management LLC raised its stake in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock valued at $1,392,000 after buying an additional 6,874 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of IAMGOLD by 15.6% in the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company's stock valued at $1,435,000 after purchasing an additional 37,005 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of IAMGOLD during the third quarter worth $267,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Company Profile

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.