Investors Buy High Volume of IAMGOLD Call Options (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG saw some unusual options trading activity on Wednesday. Investors purchased 12,906 call options on the stock. This is an increase of 373% compared to the typical daily volume of 2,729 call options.

Analyst Upgrades and Downgrades

IAG has been the subject of a number of recent analyst reports. Raymond James restated a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. BMO Capital Markets started coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. CIBC reissued an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. Finally, StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $7.57.

IAMGOLD Trading Down 0.5 %

IAG stock traded down $0.04 during midday trading on Monday, reaching $7.79. 12,467,792 shares of the company's stock traded hands, compared to its average volume of 10,068,473. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The company has a market capitalization of $4.48 billion, a P/E ratio of 5.37 and a beta of 1.52. The business has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $5.75. IAMGOLD has a fifty-two week low of $3.44 and a fifty-two week high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities research analysts forecast that IAMGOLD will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IAG. Louisbourg Investments Inc. bought a new position in IAMGOLD during the 1st quarter valued at $3,110,000. Precision Wealth Strategies LLC bought a new stake in shares of IAMGOLD in the 1st quarter valued at approximately $565,000. Ritholtz Wealth Management bought a new position in IAMGOLD during the first quarter worth $94,000. NewGen Asset Management Ltd bought a new stake in IAMGOLD during the first quarter valued at $9,062,000. Finally, Alpha Omega Wealth Management LLC acquired a new stake in shares of IAMGOLD during the first quarter worth $75,000. Institutional investors and hedge funds own 47.08% of the company's stock.

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.