IAMGOLD Target of Unusually High Options Trading (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of unusually large options trading on Thursday. Stock investors bought 5,008 put options on the stock. This represents an increase of 143% compared to the typical volume of 2,057 put options.

Analysts Set New Price Targets

IAG has been the subject of several research reports. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. acquired a new position in shares of IAMGOLD in the 4th quarter valued at $5,832,000. Mackenzie Financial Corp lifted its stake in shares of IAMGOLD by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,123,756 shares of the mining company’s stock valued at $26,456,000 after purchasing an additional 338,297 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of IAMGOLD by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company’s stock valued at $3,099,000 after purchasing an additional 5,053 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of IAMGOLD by 5.3% in the 4th quarter. Voloridge Investment Management LLC now owns 1,520,218 shares of the mining company’s stock valued at $7,844,000 after purchasing an additional 76,856 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of IAMGOLD by 28.6% in the 4th quarter. Toronto Dominion Bank now owns 352,827 shares of the mining company’s stock valued at $1,821,000 after purchasing an additional 78,450 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Down 6.6 %

Shares of NYSE:IAG opened at $5.45 on Friday. 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 business has a fifty day moving average of $5.79 and a two-hundred day moving average of $5.46. The stock has a market cap of $3.11 billion, a P/E ratio of 3.76 and a beta of 1.56. IAMGOLD has a 52-week low of $2.53 and a 52-week high of $6.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results 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 net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. On average, research analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

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.