IAMGOLD (NYSE:IAG) Trading 8.3% Higher After Earnings Beat

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG traded up 8.3% during trading on Friday following a better than expected earnings announcement. The company traded as high as $4.19 and last traded at $4.17. 4,732,283 shares changed hands during trading, a decline of 45% from the average session volume of 8,635,885 shares. The stock had previously closed at $3.85.

The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $338.90 million during the quarter. During the same quarter last year, the business posted $0.05 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a research note on Friday, April 5th. National Bank Financial restated a "sector perform spec overwgt" rating on shares of IAMGOLD in a research note on Monday, April 8th. StockNews.com raised shares of IAMGOLD from a "sell" rating to a "hold" rating in a report on Friday, April 26th. CIBC raised their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a "neutral" rating in a report on Wednesday, February 7th. Finally, Scotiabank increased their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a "sector perform" rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.55.

Institutional Trading of IAMGOLD

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IAMGOLD during the fourth quarter valued at about $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in IAMGOLD during the fourth quarter valued at $29,000. Vanguard Personalized Indexing Management LLC bought a new position in IAMGOLD during the fourth quarter valued at $33,000. Koshinski Asset Management Inc. purchased a new position in IAMGOLD in the fourth quarter worth about $34,000. Finally, Stratos Wealth Partners LTD. bought a new stake in IAMGOLD during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

IAMGOLD Price Performance

The firm has a market capitalization of $2.13 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 0.67 and a beta of 1.68. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $3.44 and a 200-day moving average price of $2.81.

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.