IAMGOLD (NYSE:IAG) Stock Price Up 4.9%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) rose 4.9% during trading on Thursday . The company traded as high as $5.25 and last traded at $5.18. Approximately 1,314,010 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 9,022,221 shares. The stock had previously closed at $4.94.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of recent analyst reports. CIBC increased their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research report on Monday, August 12th. Scotiabank increased their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and a consensus target price of $4.73.

IAMGOLD Stock Performance

The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 19.34 and a beta of 1.58. The stock’s 50 day moving average is $4.52 and its two-hundred day moving average is $3.92. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The company had revenue of $385.30 million during the quarter. During the same quarter last year, the business posted ($0.01) EPS. Analysts anticipate that IAMGOLD Co. will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its holdings in shares of IAMGOLD by 133.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock valued at $11,246,000 after purchasing an additional 1,712,640 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of IAMGOLD by 21.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 453,726 shares of the mining company’s stock valued at $1,702,000 after purchasing an additional 79,955 shares in the last quarter. Millennium Management LLC increased its holdings in shares of IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after purchasing an additional 5,204,715 shares in the last quarter. Toronto Dominion Bank increased its holdings in IAMGOLD by 512.0% during the 2nd quarter. Toronto Dominion Bank now owns 237,372 shares of the mining company’s stock valued at $890,000 after acquiring an additional 198,585 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in IAMGOLD by 1,002.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 424,452 shares of the mining company’s stock valued at $1,592,000 after acquiring an additional 385,955 shares in the last quarter. Hedge funds and other institutional investors 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.