IAMGOLD (NYSE:IAG) Shares Gap Down to $3.80

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.80, but opened at $3.64. IAMGOLD shares last traded at $3.68, with a volume of 1,349,267 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IAG shares. Scotiabank boosted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, April 26th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC raised their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets increased their target price on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The firm has a 50 day moving average of $3.28 and a 200-day moving average of $2.74. The stock has a market capitalization of $1.80 billion, a PE ratio of 19.05, a P/E/G ratio of 0.64 and a beta of 1.68.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. Research analysts forecast that IAMGOLD Co. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in the company. Euro Pacific Asset Management LLC lifted its stake in IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after acquiring an additional 885,697 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of IAMGOLD in the 3rd quarter valued at $916,000. Sprott Inc. boosted its holdings in IAMGOLD by 888.7% in the third quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after purchasing an additional 1,150,000 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in IAMGOLD by 54.5% in the third quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock worth $2,100,000 after purchasing an additional 344,691 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its position in IAMGOLD by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after buying an additional 4,358,444 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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.