Stock Traders Buy Large Volume of Iamgold Call Options (NYSE:IAG)

Key Points

• Stock traders purchased a significant volume of Iamgold call options, totaling 9,096, which marks a 246% increase from the average daily count.
• Iamgold's shares closed at $9.98, with a recent trading volume of over 5 million shares, reflecting a market capitalization of $5.74 billion.
• The company's quarterly earnings report indicated an EPS of $0.13, missing analyst expectations, and it has a consensus rating of "Moderate Buy" with a price target of $8.53.

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG was the recipient of some unusual options trading on Tuesday. Stock traders acquired 9,096 call options on the stock. Thisrepresentsanincreaseof246% compared to the average daily volume of 2,626 call options.

Iamgold Stock Performance

Shares of IAG stock traded down $0.11 on Tuesday, hitting $9.98. The company had a trading volume of 5,023,404 shares, compared to its average volume of 13,872,831. The firm has a market cap of $5.74 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 0.32 and a beta of 1.20. The company has a 50-day moving average price of $7.86 and a 200-day moving average price of $7.08. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. Iamgold has a twelve month low of $4.44 and a twelve month high of $10.27.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, equities research analysts predict that Iamgold will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. CIBC reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Scotiabank lifted their price target on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday, May 12th. Finally, Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 target price on the stock in a research note on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $8.53.

Hedge Funds Weigh In On Iamgold

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Iamgold during the fourth quarter valued at approximately $107,000. Bank of America Corp DE grew its position in Iamgold by 13.2% in the fourth quarter. Bank of America Corp DE now owns 5,817,490 shares of the mining company's stock worth $30,018,000 after acquiring an additional 680,192 shares during the period. Balyasny Asset Management L.P. acquired a new position in Iamgold during the fourth quarter worth $365,000. Cetera Investment Advisers lifted its stake in Iamgold by 23.8% during the fourth quarter. Cetera Investment Advisers now owns 303,699 shares of the mining company's stock worth $1,567,000 after purchasing an additional 58,287 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Iamgold during the fourth quarter worth $177,000. 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.

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