IAMGOLD (NYSE:IAG) Stock Price Up 4.4% – Still a Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s share price traded up 4.4% on Monday . The company traded as high as $6.54 and last traded at $6.52. 3,776,463 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 11,583,882 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IAMGOLD has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Trading Up 1.5 %

The stock’s fifty day moving average price is $5.55 and its 200 day moving average price is $5.21. The stock has a market capitalization of $3.69 billion, a P/E ratio of 5.05 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. During the same period last year, the business posted ($0.01) earnings per share. Research analysts forecast that IAMGOLD Co. will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of IAMGOLD by 107.9% in the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after acquiring an additional 4,577,599 shares in the last quarter. Van ECK Associates Corp raised its stake in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after buying an additional 4,267,084 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after buying an additional 3,732,315 shares during the period. Bank of Montreal Can boosted its position in IAMGOLD by 130.6% during the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after acquiring an additional 3,049,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IAMGOLD by 158.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after acquiring an additional 2,839,556 shares during the period. 47.08% of the stock is currently owned by hedge funds and other 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.