IAMGOLD (NYSE:IAG) Trading Up 3.6% – Time to Buy?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) traded up 3.6% during trading on Wednesday . The company traded as high as $6.25 and last traded at $6.26. 3,623,433 shares were traded during trading, a decline of 62% from the average session volume of 9,540,566 shares. The stock had previously closed at $6.04.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IAG shares. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. CIBC reissued an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.90.

IAMGOLD Stock Down 2.3 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.60 billion, a PE ratio of 4.33 and a beta of 1.63. The business’s 50-day simple moving average is $5.98 and its 200 day simple moving average is $5.57.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. As a group, equities research analysts expect that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Tobam bought a new stake in IAMGOLD during the fourth quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after buying an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD in the 4th quarter worth approximately $68,000. Finally, Choreo LLC bought a new position in shares of IAMGOLD during the 4th quarter worth approximately $88,000. 47.08% of the stock is owned by institutional investors.

About IAMGOLD

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.