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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) gapped down prior to trading on Monday . The stock had previously closed at $5.69, but opened at $5.36. IAMGOLD shares last traded at $5.23, with a volume of 2,154,074 shares.

Analysts Set New Price Targets

IAG has been the subject of a number of analyst reports. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Scotiabank boosted their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. CIBC boosted their price target on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Price Performance

The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 3.95 and a beta of 1.57. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $4.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.92%. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, research analysts predict that IAMGOLD Co. will post 0.53 EPS for the current year.

Institutional Trading of IAMGOLD

Large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after purchasing an additional 2,839,556 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its stake in shares of IAMGOLD by 213.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 942,900 shares of the mining company’s stock worth $4,942,000 after purchasing an additional 641,750 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of IAMGOLD by 2.6% during the third quarter. CIBC Asset Management Inc now owns 698,107 shares of the mining company’s stock worth $3,661,000 after purchasing an additional 17,608 shares in the last quarter. Aigen Investment Management LP lifted its stake in shares of IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after purchasing an additional 6,704 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of IAMGOLD during the third quarter worth about $296,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.