IAMGOLD (TSE:IMG) Trading Down 5% - Should You Sell?

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG shares dropped 5% on Tuesday . The company traded as low as C$9.73 and last traded at C$9.73. Approximately 804,638 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 2,018,674 shares. The stock had previously closed at C$10.24.

Analyst Upgrades and Downgrades

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

IAMGOLD Stock Down 7.8%

The stock has a market cap of C$3.84 billion, a P/E ratio of 4.90, a PEG ratio of -0.28 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93. The business has a 50-day simple moving average of C$9.73 and a 200-day simple moving average of C$9.04.

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.