IAMGOLD (IAG) Shares Gap Up to $5.58

IAMGOLD Corp (NYSE:IAG) (TSE:IMG) gapped up prior to trading on Monday . The stock had previously closed at $5.70, but opened at $5.58. IAMGOLD shares last traded at $5.54, with a volume of 1469630 shares traded.

Several brokerages have weighed in on IAG. BMO Capital Markets set a $7.00 target price on IAMGOLD and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Canaccord Genuity raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered IAMGOLD from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. CIBC set a $7.50 target price on IAMGOLD and gave the stock an “outperform” rating in a research report on Wednesday, January 17th. Finally, Bank of America raised IAMGOLD from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $7.17.

The firm has a market cap of $2,602.70, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 16.91 and a beta of -0.18. The company has a quick ratio of 4.16, a current ratio of 5.02 and a debt-to-equity ratio of 0.14.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $291.10 million for the quarter, compared to analyst estimates of $280.04 million. IAMGOLD had a net margin of 45.81% and a return on equity of 1.08%. IAMGOLD’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share. research analysts anticipate that IAMGOLD Corp will post 0.11 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in IAMGOLD by 39.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 36,071 shares of the mining company’s stock worth $265,000 after acquiring an additional 10,179 shares during the period. Fox Run Management L.L.C. grew its holdings in IAMGOLD by 121.2% during the fourth quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock worth $153,000 after acquiring an additional 14,425 shares during the period. Two Sigma Securities LLC grew its holdings in IAMGOLD by 41.5% during the fourth quarter. Two Sigma Securities LLC now owns 50,760 shares of the mining company’s stock worth $296,000 after acquiring an additional 14,895 shares during the period. Legal & General Group Plc grew its holdings in IAMGOLD by 4.5% during the third quarter. Legal & General Group Plc now owns 366,157 shares of the mining company’s stock worth $2,309,000 after acquiring an additional 15,876 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in IAMGOLD by 1.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 990,891 shares of the mining company’s stock worth $5,777,000 after acquiring an additional 16,801 shares during the period. 57.39% of the stock is currently owned by hedge funds and other institutional investors.

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About IAMGOLD

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interest in the Rosebel gold mine located in north eastern Suriname, South America; Essakane gold mine in north-eastern Burkina Faso, West Africa; Westwood gold mine in southwestern Québec, Canada; the Sadiola Gold Mine located in southwest Mali, West Africa; and Yatela gold mines situated in southwest Mali, West Africa.

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