IAMGOLD (NYSE:IAG) Shares Gap Down - Here's What Happened

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG gapped down before the market opened on Monday . The stock had previously closed at $7.22, but opened at $7.06. IAMGOLD shares last traded at $7.17, with a volume of 2,732,783 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on IAG shares. Scotiabank boosted their target price on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a report on Monday, April 14th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. BMO Capital Markets started coverage on IAMGOLD in a research report on Wednesday. They set an "outperform" rating for the company. Finally, CIBC reaffirmed an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, IAMGOLD currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Trading Down 3.4 %

The company has a market cap of $4.47 billion, a PE ratio of 5.39 and a beta of 1.52. 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 company has a fifty day simple moving average of $6.19 and a two-hundred day simple moving average of $5.74.

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

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently bought and sold shares of the stock. Tobam purchased a new position in IAMGOLD during the 4th quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after acquiring an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new position in shares of IAMGOLD during the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD in the 4th quarter valued at $68,000. Finally, Alpha Omega Wealth Management LLC purchased a new stake in IAMGOLD in the 1st quarter valued at $75,000. Institutional investors and hedge funds own 47.08% of the company's stock.

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.