IAMGOLD (NYSE:IAG) Trading Up 3.6% – Still a Buy?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shares were up 3.6% during trading on Wednesday . The company traded as high as $6.25 and last traded at $6.26. Approximately 3,623,433 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 9,540,566 shares. The stock had previously closed at $6.04.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IAG shares. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. CIBC reissued an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD presently has a consensus rating of “Moderate Buy” and an average target price of $6.90.

IAMGOLD Stock Down 2.3 %

The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.60 billion, a P/E ratio of 4.33 and a beta of 1.63. The company has a fifty day moving average price of $5.98 and a 200-day moving average price of $5.57.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. As a group, research analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

A number of large investors have recently made changes to their positions in IAG. RCF Management L.L.C. purchased a new position in IAMGOLD in the fourth quarter worth about $128,174,000. Millennium Management LLC lifted its stake in shares of IAMGOLD by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock valued at $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. FMR LLC boosted its holdings in shares of IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the period. Two Sigma Advisers LP increased its position in shares of IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings 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 buying an additional 3,049,252 shares during the period. 47.08% of the stock is currently owned by 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.