IAMGOLD (NYSE:IAG) Sees Unusually-High Trading Volume

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw unusually-high trading volume on Friday . Approximately 3,224,355 shares traded hands during mid-day trading, a decline of 62% from the previous session’s volume of 8,377,573 shares.The stock last traded at $3.84 and had previously closed at $3.76.

Wall Street Analyst Weigh In

IAG has been the subject of several research reports. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC raised their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Wednesday. 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and an average target price of $3.52.

IAMGOLD Stock Down 4.0 %

The firm has a market capitalization of $1.79 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.29 and a beta of 1.70. The company has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $2.60. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million for the quarter. On average, equities analysts expect that IAMGOLD Co. will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in IAMGOLD by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock valued at $44,302,000 after buying an additional 135,524 shares during the last quarter. Virtu Financial LLC bought a new stake in IAMGOLD during the fourth quarter valued at approximately $76,000. D L Carlson Investment Group Inc. bought a new stake in IAMGOLD during the fourth quarter valued at approximately $34,000. Barclays PLC increased its holdings in IAMGOLD by 307.9% during the fourth quarter. Barclays PLC now owns 1,196,710 shares of the mining company’s stock valued at $3,028,000 after buying an additional 903,347 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in IAMGOLD in the fourth quarter worth approximately $25,000. 47.08% of the stock is owned by institutional investors.

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.