IAMGOLD (NYSE:IAG) Shares Gap Down to $3.80

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.80, but opened at $3.64. IAMGOLD shares last traded at $3.68, with a volume of 1,349,267 shares changing hands.

Wall Street Analyst Weigh In

IAG has been the subject of several recent analyst reports. Scotiabank upped their price objective on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC increased their target price on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets increased their price target on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.55.

IAMGOLD Stock Down 4.2 %

The firm has a 50 day moving average of $3.24 and a 200 day moving average of $2.73. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 0.68 and a beta of 1.69. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The business had revenue of $297.60 million during the quarter. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. bought a new position in shares of IAMGOLD in the fourth quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new position in shares of IAMGOLD in the fourth quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD in the fourth quarter valued at approximately $33,000. Koshinski Asset Management Inc. bought a new stake in IAMGOLD during the fourth quarter worth $34,000. Finally, Stratos Wealth Partners LTD. bought a new stake in IAMGOLD during the third quarter worth $32,000. 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.