IAMGOLD (TSE:IMG) Stock Price Down 9% - Here's Why

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's share price traded down 9% during mid-day trading on Tuesday . The company traded as low as C$9.29 and last traded at C$9.32. 1,918,970 shares changed hands during trading, a decline of 5% from the average session volume of 2,029,644 shares. The stock had previously closed at C$10.24.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. National Bankshares increased their target price on IAMGOLD from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Raymond James Financial upgraded IAMGOLD to a "hold" rating in a report on Monday, June 30th. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Stifel Nicolaus increased their price target on IAMGOLD from C$9.50 to C$11.00 in a research report on Monday, April 21st. Finally, BMO Capital Markets raised IAMGOLD to a "strong-buy" rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$11.00.

IAMGOLD Trading Up 0.4%

The stock has a market capitalization of C$3.85 billion, a PE ratio of 4.92, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The firm has a 50-day moving average price of C$9.73 and a 200-day moving average price of C$9.04. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

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.