IAMGOLD (NYSE:IAG) Trading 4.8% Higher – Should You Buy?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) were up 4.8% during trading on Tuesday . The stock traded as high as $5.40 and last traded at $5.36. Approximately 1,787,861 shares were traded during trading, a decline of 85% from the average daily volume of 11,991,973 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Up 0.3 %

The company has a 50 day moving average price of $5.86 and a 200-day moving average price of $5.49. The stock has a market capitalization of $3.28 billion, a PE ratio of 3.96 and a beta of 1.63. 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 announced its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. As a group, analysts forecast that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tobam purchased a new stake in IAMGOLD in the fourth quarter worth $25,000. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD during the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. bought a new stake in IAMGOLD during the fourth quarter worth about $68,000. Finally, Choreo LLC purchased a new stake in IAMGOLD in the fourth quarter worth about $88,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.