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

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG gapped up prior to trading on Monday . The stock had previously closed at $6.72, but opened at $6.98. IAMGOLD shares last traded at $6.82, with a volume of 1,608,549 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IAG. CIBC upped their price objective on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research report on Thursday. BMO Capital Markets began coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Scotiabank raised their target price on IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.70.

IAMGOLD Trading Up 2.5 %

The stock has a market capitalization of $4.04 billion, a PE ratio of 4.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The business's 50-day moving average is $6.53 and its two-hundred day moving average is $5.95.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The firm had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. As a group, equities research analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in IAMGOLD by 20.8% in the 1st quarter. Deutsche Bank AG now owns 1,635,502 shares of the mining company's stock valued at $10,222,000 after buying an additional 281,674 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of IAMGOLD by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company's stock worth $134,764,000 after purchasing an additional 361,608 shares during the last quarter. Associated Banc Corp acquired a new position in shares of IAMGOLD in the first quarter valued at approximately $142,000. Jupiter Asset Management Ltd. purchased a new position in shares of IAMGOLD during the first quarter valued at approximately $1,097,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in IAMGOLD by 12.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,690 shares of the mining company's stock worth $971,000 after acquiring an additional 17,636 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.