Iamgold (NYSE:IAG) Trading Down 6.5% – Should You Sell?

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) traded down 6.5% during trading on Tuesday . The stock traded as low as $17.33 and last traded at $17.3160. 3,333,922 shares were traded during trading, a decline of 60% from the average session volume of 8,269,248 shares. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Scotiabank lifted their target price on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Finally, Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Stock Performance

The company has a market cap of $10.02 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.46. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $20.32 and its 200 day moving average price is $17.22.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, research analysts expect that Iamgold Corporation will post 2.23 EPS for the current fiscal year.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Iamgold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. bought a new position in Iamgold during the fourth quarter worth $30,000. Tsfg LLC bought a new position in Iamgold during the third quarter worth $26,000. Global Retirement Partners LLC bought a new position in Iamgold during the fourth quarter worth $33,000. FNY Investment Advisers LLC bought a new position in Iamgold during the fourth quarter worth $38,000. Finally, LOM Asset Management Ltd bought a new position in Iamgold during the fourth quarter worth $49,000. Institutional investors own 47.08% of the company’s stock.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.