Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG's stock price was down 4.3% during mid-day trading on Friday . The company traded as low as $7.01 and last traded at $7.07. Approximately 2,373,789 shares were traded during trading, a decline of 79% from the average daily volume of 11,340,450 shares. The stock had previously closed at $7.38.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on IAG shares. Scotiabank upped their target price on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. CIBC upped their price objective on Iamgold from $8.40 to $9.20 and gave the company an "outperformer" rating in a report on Thursday, May 8th. BMO Capital Markets assumed coverage on Iamgold in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Wall Street Zen downgraded Iamgold from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.29.
Read Our Latest Analysis on IAG
Iamgold Trading Down 3.6%
The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 5.05, a price-to-earnings-growth ratio of 0.37 and a beta of 1.15. The firm has a fifty day moving average price of $7.09 and a 200-day moving average price of $6.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.41.
Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. As a group, equities analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in IAG. Franklin Resources Inc. boosted its holdings in shares of Iamgold by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after purchasing an additional 1,836 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Iamgold by 17.8% in the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock valued at $125,000 after buying an additional 3,020 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Iamgold by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock valued at $181,000 after buying an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in Iamgold by 4.6% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock valued at $473,000 after acquiring an additional 4,013 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its stake in Iamgold by 4.2% during the fourth quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company's stock worth $561,000 after acquiring an additional 4,399 shares in the last quarter. 47.08% of the stock is owned by institutional investors.
About Iamgold
(
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.
Further Reading
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