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

Iamgold Corporation (NYSE:IAG) (TSE:IMG)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.88, but opened at $18.79. Iamgold shares last traded at $19.1480, with a volume of 920,045 shares changing hands.

Analyst Upgrades and Downgrades

IAG has been the subject of a number of recent analyst reports. Raymond James Financial increased their price target on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Finally, Scotiabank increased their price objective on Iamgold to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Iamgold Price Performance

The company has a market cap of $10.74 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $17.03 and a two-hundred day moving average price of $12.86.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. The company had revenue of $714.61 million during the quarter, compared to analysts’ expectations of $759.45 million. As a group, equities research analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Iamgold

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after buying an additional 84,939 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Iamgold by 6.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock valued at $15,127,000 after acquiring an additional 144,160 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Iamgold by 67.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after purchasing an additional 404,645 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Iamgold by 9.8% in the second quarter. Public Employees Retirement System of Ohio now owns 219,149 shares of the mining company’s stock valued at $1,611,000 after buying an additional 19,588 shares during the period. Finally, Euro Pacific Asset Management LLC lifted its stake in shares of Iamgold by 8.7% in the 2nd quarter. Euro Pacific Asset Management LLC now owns 1,245,480 shares of the mining company’s stock valued at $9,154,000 after purchasing an additional 100,117 shares during the period. Institutional investors own 47.08% of the company’s stock.

About Iamgold

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.