IAMGOLD (NYSE:IAG) Shares Gap Down – Time to Sell?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) gapped down prior to trading on Friday . The stock had previously closed at $6.26, but opened at $6.09. IAMGOLD shares last traded at $6.17, with a volume of 729,103 shares trading hands.

Wall Street Analyst Weigh In

IAG has been the topic of several research analyst reports. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Scotiabank boosted their price objective on IAMGOLD from $7.50 to $7.75 and gave the company a “sector perform” rating in a report on Monday, May 12th. Raymond James reiterated a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, CIBC boosted their price objective on IAMGOLD from $8.40 to $9.20 and gave the company an “outperformer” rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.74.

IAMGOLD Trading Up 0.7%

The company has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $5.96. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.63 billion, a PE ratio of 4.35 and a beta of 1.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. Analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently bought and sold shares of the stock. Tobam acquired a new position in shares of IAMGOLD during the 4th quarter worth about $25,000. Summit Securities Group LLC acquired a new position in shares of IAMGOLD during the 1st quarter worth about $35,000. Blue Trust Inc. boosted its position in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new position in shares of IAMGOLD during the 4th quarter worth about $56,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD during the 4th quarter worth about $68,000. Hedge funds and other institutional investors 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.