Shares of IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) gapped down before the market opened on Wednesday . The stock had previously closed at $1.26, but opened at $1.20. IAMGOLD shares last traded at $1.18, with a volume of 9,096 shares.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on IAG. StockNews.com downgraded IAMGOLD from a "hold" rating to a "sell" rating in a report on Monday, August 8th. BMO Capital Markets reduced their target price on IAMGOLD from $2.75 to $2.00 and set a "market perform" rating on the stock in a research note on Thursday, August 4th. Finally, National Bank Financial cut their price target on shares of IAMGOLD from C$3.25 to C$2.25 in a report on Thursday, July 21st. Seven research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $2.91.
Get IAMGOLD alerts:IAMGOLD Stock Down 7.5 %
The stock has a market capitalization of $558.04 million, a PE ratio of -2.33, a PEG ratio of 39.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.13 and a current ratio of 1.77. The business has a 50 day moving average of $1.29 and a two-hundred day moving average of $2.01.
Institutional Investors Weigh In On IAMGOLD
Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of IAMGOLD by 1.4% in the 2nd quarter. Van ECK Associates Corp now owns 47,628,360 shares of the mining company's stock worth $76,681,000 after purchasing an additional 642,171 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of IAMGOLD by 0.3% in the 2nd quarter. Donald Smith & CO. Inc. now owns 40,099,242 shares of the mining company's stock valued at $64,560,000 after purchasing an additional 138,370 shares during the last quarter. Renaissance Technologies LLC grew its position in IAMGOLD by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 18,687,300 shares of the mining company's stock worth $30,087,000 after purchasing an additional 1,268,700 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of IAMGOLD by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,717,410 shares of the mining company's stock worth $54,697,000 after buying an additional 466,956 shares during the last quarter. Finally, P Schoenfeld Asset Management LP lifted its stake in shares of IAMGOLD by 19.8% during the first quarter. P Schoenfeld Asset Management LP now owns 12,255,094 shares of the mining company's stock worth $42,648,000 after buying an additional 2,028,800 shares during the period. 50.93% of the stock is currently owned by institutional investors and hedge funds.About IAMGOLD
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IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.
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