Iamgold (NYSE:IAG) Shares Gap Down – Should You Sell?

Iamgold Corporation (NYSE:IAG) (TSE:IMG)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $19.68, but opened at $18.17. Iamgold shares last traded at $19.0540, with a volume of 625,385 shares traded.

Wall Street Analysts Forecast Growth

IAG has been the subject of several research reports. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Scotiabank boosted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Finally, Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Iamgold Trading Down 1.7%

The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $20.46 and its 200-day moving average is $16.50. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.49 and a beta of 1.46.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Research analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $657,400. This represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Iamgold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tsfg LLC acquired a new position in shares of Iamgold in the 3rd quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Iamgold during the 4th quarter worth about $30,000. Global Retirement Partners LLC purchased a new stake in Iamgold in the 4th quarter valued at about $33,000. Finally, FNY Investment Advisers LLC acquired a new position in Iamgold in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.