Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG shares were up 5.9% during mid-day trading on Monday . The stock traded as high as $7.73 and last traded at $7.68. Approximately 2,390,505 shares traded hands during trading, a decline of 79% from the average daily volume of 11,198,898 shares. The stock had previously closed at $7.25.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Scotiabank raised their price target on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Iamgold from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. CIBC raised their target price on shares of Iamgold from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. BMO Capital Markets started coverage on shares of Iamgold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $8.29.
View Our Latest Analysis on Iamgold
Iamgold Trading Up 5.9%
The business has a 50 day moving average of $7.11 and a two-hundred day moving average of $6.28. The firm has a market cap of $4.41 billion, a P/E ratio of 5.45 and a beta of 1.15. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29.
Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 45.42% and a return on equity of 9.26%. Analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current year.
Institutional Trading of Iamgold
Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in 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 buying an additional 1,836 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of 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 acquiring an additional 3,020 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of 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 in the last quarter. Finally, Freedom Investment Management Inc. increased its position 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 during the period. 47.08% of the stock is owned by institutional investors and hedge funds.
Iamgold Company Profile
(
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.
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