IAMGOLD Sees Unusually High Options Volume (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) saw some unusual options trading on Tuesday. Stock traders acquired 26,951 call options on the stock. This represents an increase of 1,745% compared to the typical daily volume of 1,461 call options.

Wall Street Analysts Forecast Growth

Several research firms have commented on IAG. National Bank Financial dropped their target price on IAMGOLD from C$4.10 to C$4.00 in a report on Tuesday, February 14th. Raymond James boosted their price target on IAMGOLD from $2.00 to $2.25 and gave the company an “underperform” rating in a report on Tuesday, January 31st. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, BMO Capital Markets assumed coverage on IAMGOLD in a research note on Monday, May 1st. They set an “outperform” rating and a $3.25 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, IAMGOLD has an average rating of “Hold” and an average target price of $2.89.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of IAMGOLD by 14.0% during the 1st quarter. Van ECK Associates Corp now owns 51,174,133 shares of the mining company’s stock worth $138,678,000 after purchasing an additional 6,269,790 shares during the last quarter. Norges Bank acquired a new position in shares of IAMGOLD during the 4th quarter worth approximately $12,557,000. Nomura Holdings Inc. acquired a new position in shares of IAMGOLD during the 4th quarter worth approximately $7,776,000. JPMorgan Chase & Co. lifted its holdings in IAMGOLD by 416.9% in the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after acquiring an additional 1,960,562 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in IAMGOLD in the fourth quarter valued at approximately $4,897,000. Hedge funds and other institutional investors own 48.57% of the company’s stock.

IAMGOLD Stock Up 1.2 %

IAMGOLD stock opened at $3.28 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 2.04. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -21.87 and a beta of 1.46. IAMGOLD has a 1-year low of $0.92 and a 1-year high of $3.34. The business has a fifty day moving average price of $2.71 and a 200-day moving average price of $2.40.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last issued its earnings results on Thursday, February 16th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $207.20 million during the quarter. IAMGOLD had a negative return on equity of 0.13% and a negative net margin of 5.65%. Equities research analysts forecast that IAMGOLD will post -0.02 EPS for the current fiscal year.

About IAMGOLD

(Get Rating)

IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.