IAMGOLD (NYSE:IAG) Trading Up 4.8% – What’s Next?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shot up 4.8% on Tuesday . The stock traded as high as $5.40 and last traded at $5.36. 1,787,861 shares were traded during trading, a decline of 85% from the average session volume of 11,991,973 shares. The stock had previously closed at $5.11.

Wall Street Analysts Forecast Growth

IAG has been the subject of several recent analyst reports. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Price Performance

The stock has a fifty day simple moving average of $5.84 and a two-hundred day simple moving average of $5.49. 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 $3.15 billion, a PE ratio of 3.80 and a beta of 1.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. On average, equities analysts predict that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. Tobam bought a new position in shares of IAMGOLD in the fourth quarter worth about $25,000. Blue Trust Inc. boosted its stake in IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of IAMGOLD in the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. bought a new stake in IAMGOLD in the 4th quarter valued at approximately $68,000. Finally, Choreo LLC acquired a new position in IAMGOLD during the 4th quarter worth approximately $88,000. 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.