IAMGOLD (NYSE:IAG) Stock Price Up 9.8% – What’s Next?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) were up 9.8% during trading on Friday . The stock traded as high as $5.87 and last traded at $5.84. Approximately 2,911,795 shares changed hands during trading, a decline of 68% from the average daily volume of 9,050,128 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IAG. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Scotiabank lifted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Trading Up 5.6 %

The company has a market cap of $3.21 billion, a price-to-earnings ratio of 4.47 and a beta of 1.57. The business’s fifty day moving average price is $5.26 and its 200 day moving average price is $4.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same period in the previous year, the company posted ($0.01) EPS. Research analysts anticipate that IAMGOLD Co. will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAG. Virtu Financial LLC boosted its stake in shares of IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after purchasing an additional 309,836 shares during the last quarter. Semanteon Capital Management LP bought a new stake in IAMGOLD during the third quarter valued at $503,000. Van ECK Associates Corp grew its holdings in IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after acquiring an additional 4,267,084 shares during the period. Headlands Technologies LLC bought a new position in shares of IAMGOLD in the 1st quarter worth about $389,000. Finally, U S Global Investors Inc. lifted its stake in shares of IAMGOLD by 241.6% in the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after purchasing an additional 604,114 shares during the period. Institutional investors and hedge funds 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.