IAMGOLD (NYSE:IAG) Shares Gap Down – What’s Next?

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.

Analyst Upgrades and Downgrades

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

IAMGOLD Trading Up 1.5 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 5.06 and a beta of 1.52. The company’s fifty day moving average price is $6.06 and its 200-day moving average price is $5.66.

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

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. RCF Management L.L.C. acquired a new position in shares of IAMGOLD in the 4th quarter valued at $128,174,000. Millennium Management LLC boosted its stake in shares of IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after acquiring an additional 4,846,254 shares in the last quarter. Invesco Ltd. grew its position in shares of IAMGOLD by 41.6% during the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock valued at $36,842,000 after acquiring an additional 2,098,215 shares during the period. American Century Companies Inc. increased its stake in shares of IAMGOLD by 25.9% in the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock valued at $52,499,000 after purchasing an additional 2,092,803 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in IAMGOLD by 54.0% in the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after purchasing an additional 1,795,869 shares during the period. 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.