IAMGOLD (NYSE:IAG) Shares Up 4.6% – Time to Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price rose 4.6% during mid-day trading on Thursday . The stock traded as high as $6.83 and last traded at $6.81. Approximately 3,875,299 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 9,909,693 shares. The stock had previously closed at $6.51.

Analyst Upgrades and Downgrades

IAG has been the topic of several analyst reports. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Raymond James reaffirmed a “market perform” rating and set a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th. CIBC reissued an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Finally, StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, IAMGOLD presently has a consensus rating of “Moderate Buy” and an average price target of $7.23.

IAMGOLD Stock Up 7.9 %

The company has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $5.64. The firm has a market capitalization of $4.02 billion, a PE ratio of 4.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IAG. PKO Investment Management Joint Stock Co bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $1,241,000. Polar Asset Management Partners Inc. acquired a new position in IAMGOLD in the 4th quarter worth approximately $5,832,000. Mackenzie Financial Corp raised its position in IAMGOLD by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,123,756 shares of the mining company’s stock worth $26,456,000 after buying an additional 338,297 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of IAMGOLD by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company’s stock valued at $3,099,000 after acquiring an additional 5,053 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in shares of IAMGOLD by 5.3% in the fourth quarter. Voloridge Investment Management LLC now owns 1,520,218 shares of the mining company’s stock worth $7,844,000 after acquiring an additional 76,856 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.