IAMGOLD (NYSE:IAG) Stock Price Down 9.3% - What's Next?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG dropped 9.3% during mid-day trading on Monday . The stock traded as low as $6.37 and last traded at $6.36. Approximately 2,721,104 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 13,425,765 shares. The stock had previously closed at $7.01.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com lowered IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. CIBC raised their price objective on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. Raymond James reaffirmed a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. Finally, BMO Capital Markets began coverage on IAMGOLD in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $7.74.

IAMGOLD Stock Performance

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 stock has a fifty day moving average of $6.58 and a 200-day moving average of $5.95. The stock has a market cap of $3.58 billion, a PE ratio of 4.30 and a beta of 1.20.

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 for the quarter, meeting analysts' consensus estimates of $0.10. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. On average, equities analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors have recently added to or reduced their stakes in the business. Tobam purchased a new stake in IAMGOLD in the 4th quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of IAMGOLD during the 1st quarter valued at approximately $35,000. Blue Trust Inc. boosted its stake 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 acquiring an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of IAMGOLD in the 4th quarter worth approximately $56,000. Finally, Atria Wealth Solutions Inc. acquired a new position in IAMGOLD during the fourth quarter worth $68,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

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.