IAMGOLD (TSE:IMG) Shares Down 4.9% – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) was down 4.9% during mid-day trading on Thursday . The company traded as low as C$9.78 and last traded at C$10.05. Approximately 2,104,150 shares were traded during trading, an increase of 1% from the average daily volume of 2,092,352 shares. The stock had previously closed at C$10.57.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMG shares. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Stifel Nicolaus upped their target price on IAMGOLD from C$9.50 to C$11.00 in a research note on Monday. National Bankshares raised their price target on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 2nd. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, BMO Capital Markets upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$10.67.

IAMGOLD Stock Down 4.9 %

The stock has a fifty day moving average of C$8.88 and a two-hundred day moving average of C$8.21. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93. The stock has a market cap of C$4.08 billion, a price-to-earnings ratio of 5.22, a PEG ratio of -0.28 and a beta of 1.47.

Insider Activity

In related news, Director Lawrence Peter O’hagan acquired 4,800 shares of IAMGOLD stock in a transaction on Tuesday, February 25th. The shares were bought at an average price of C$8.11 per share, for a total transaction of C$38,918.88. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$8.52, for a total value of C$127,786.50. Insiders have bought 45,800 shares of company stock valued at $370,999 in the last three months. Corporate insiders own 0.10% 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.