IAMGOLD Sees Unusually High Options Volume (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of unusually large options trading on Friday. Stock investors acquired 4,720 call options on the company. This is an increase of approximately 116% compared to the typical daily volume of 2,183 call options.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of the company. Tobam acquired a new position in IAMGOLD during the 4th quarter worth $25,000. Blue Trust Inc. boosted its stake in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new stake in IAMGOLD in the 4th quarter valued at approximately $56,000. Atria Wealth Solutions Inc. bought a new position in IAMGOLD in the 4th quarter worth approximately $68,000. Finally, Choreo LLC acquired a new position in shares of IAMGOLD during the fourth quarter worth approximately $88,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Down 1.6 %

Shares of NYSE IAG traded down $0.10 during trading hours on Friday, hitting $6.33. The stock had a trading volume of 6,338,548 shares, compared to its average volume of 9,715,195. The firm’s 50-day moving average price is $5.98 and its two-hundred day moving average price is $5.57. IAMGOLD has a 52 week low of $3.21 and a 52 week high of $6.69. The company has a market capitalization of $3.62 billion, a P/E ratio of 4.36 and a beta of 1.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate 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 return on equity of 10.64% and a net margin of 50.19%. Analysts anticipate that IAMGOLD will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.