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

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Raymond James reissued a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, CIBC reissued an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Four investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.23.

IAMGOLD Stock Performance

The stock’s 50 day simple moving average is $6.06 and its two-hundred day simple moving average is $5.66. The company has a market cap of $4.12 billion, a PE ratio of 4.97 and a beta of 1.52. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced 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). The firm had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, research analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IAG. Allspring Global Investments Holdings LLC raised its holdings in shares of IAMGOLD by 27.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after buying an additional 277,000 shares during the period. Cibc World Market Inc. raised its stake in shares of IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after purchasing an additional 1,795,869 shares during the period. Triasima Portfolio Management inc. lifted its position in shares of IAMGOLD by 44.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock worth $1,820,000 after purchasing an additional 108,524 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after purchasing an additional 604,259 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in IAMGOLD during the 3rd quarter worth $1,083,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.