IAMGOLD (NYSE:IAG) Shares Gap Up to $3.59

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) gapped up before the market opened on Monday . The stock had previously closed at $3.59, but opened at $3.71. IAMGOLD shares last traded at $3.73, with a volume of 1,142,362 shares.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of research reports. Scotiabank boosted their price target on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. BMO Capital Markets raised their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC raised their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Stock Up 4.2 %

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The firm’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $2.76. The company has a current ratio of 1.19, a quick ratio of 0.77 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 for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The firm had revenue of $297.60 million for the quarter. Sell-side analysts anticipate that IAMGOLD Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Several institutional investors have recently added to or reduced their stakes in the company. Euro Pacific Asset Management LLC grew its stake in shares of IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after acquiring an additional 885,697 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in IAMGOLD during the third quarter worth approximately $916,000. Sprott Inc. increased its stake in IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after acquiring an additional 1,150,000 shares during the period. Donald Smith & CO. Inc. raised its holdings in IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after acquiring an additional 4,358,444 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of IAMGOLD by 54.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock valued at $2,100,000 after acquiring an additional 344,691 shares during the period. 47.08% of the stock is currently owned by institutional investors.

About IAMGOLD

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.