Shares of IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) saw an uptick in trading volume on Tuesday . 893,142 shares changed hands during mid-day trading, a decline of 87% from the previous session’s volume of 6,772,894 shares.The stock last traded at $2.79 and had previously closed at $2.78.
Several brokerages have issued reports on IAG. Canaccord Genuity Group downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of IAMGOLD from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Friday, April 29th. Stifel Nicolaus downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday. BMO Capital Markets downgraded shares of IAMGOLD from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $4.00 to $2.75 in a research note on Monday, April 18th. Finally, Royal Bank of Canada downgraded shares of IAMGOLD from a “sector perform” rating to an “underperform” rating and set a $2.00 price objective for the company. in a research note on Wednesday, April 20th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.35.
The firm has a market capitalization of $1.02 billion, a PE ratio of -4.04, a price-to-earnings-growth ratio of 25.74 and a beta of 1.15. The stock’s 50-day moving average price is $3.28 and its 200 day moving average price is $3.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.63 and a quick ratio of 1.12.
A number of hedge funds have recently modified their holdings of IAG. Donald Smith & CO. Inc. grew its holdings in IAMGOLD by 2.4% in the third quarter. Donald Smith & CO. Inc. now owns 41,333,683 shares of the mining company’s stock worth $93,414,000 after purchasing an additional 976,149 shares during the last quarter. Polunin Capital Partners Ltd purchased a new position in IAMGOLD in the fourth quarter worth $31,851,000. Invesco Ltd. grew its holdings in IAMGOLD by 4.6% in the fourth quarter. Invesco Ltd. now owns 6,421,046 shares of the mining company’s stock worth $20,098,000 after purchasing an additional 284,510 shares during the last quarter. Norges Bank purchased a new position in IAMGOLD in the fourth quarter worth $15,251,000. Finally, Russell Investments Group Ltd. grew its holdings in IAMGOLD by 37.0% in the first quarter. Russell Investments Group Ltd. now owns 2,825,537 shares of the mining company’s stock worth $9,832,000 after purchasing an additional 762,573 shares during the last quarter. 49.21% of the stock is currently owned by institutional investors.
About IAMGOLD (NYSE:IAG)
IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the CÃ´tÃ© gold project, which covers an area of 586 square kilometer located in Ontario, Canada.
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