IAMGOLD (NYSE:IAG) Shares Gap Up - Still a Buy?

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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a report on Monday, April 14th. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. BMO Capital Markets started coverage on IAMGOLD in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James reaffirmed a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. Finally, CIBC increased their price objective on shares of IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.70.

IAMGOLD Trading Up 2.5 %

The company has a market cap of $4.04 billion, a P/E ratio of 4.84 and a beta of 1.20. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm'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 posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, equities research analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in IAMGOLD by 2.7% during the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock valued at $1,392,000 after acquiring an additional 6,874 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after purchasing an additional 604,259 shares in the last quarter. DGS Capital Management LLC acquired a new position in IAMGOLD in the fourth quarter valued at approximately $110,000. Blue Trust Inc. boosted its holdings in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after buying an additional 5,511 shares in the last quarter. Finally, Synergy Asset Management LLC grew its position in shares of IAMGOLD by 117.3% during the 4th quarter. Synergy Asset Management LLC now owns 50,499 shares of the mining company's stock worth $274,000 after buying an additional 27,262 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.