IAMGOLD (NYSE:IAG) Shares Gap Down – Should You Sell?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $7.22, but opened at $7.06. IAMGOLD shares last traded at $7.17, with a volume of 2,732,783 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Raymond James reissued a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Finally, StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

IAMGOLD Trading Up 2.1 %

The business’s fifty day moving average is $6.10 and its two-hundred day moving average is $5.69. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 5.13 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its 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 firm had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. Equities analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $114,000. Public Employees Retirement System of Ohio bought a new position in IAMGOLD in the third quarter valued at approximately $1,083,000. Geode Capital Management LLC grew its holdings in IAMGOLD by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after acquiring an additional 6,874 shares during the period. Toronto Dominion Bank raised its position in shares of IAMGOLD by 15.6% during the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock valued at $1,435,000 after acquiring an additional 37,005 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of IAMGOLD in the 3rd quarter valued at $267,000. 47.08% of the stock is owned by 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.