IAMGOLD (TSE:IMG) Stock Price Down 5% – Here’s Why

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares dropped 5% during mid-day trading on Friday . The company traded as low as C$8.10 and last traded at C$8.51. Approximately 424,203 shares traded hands during trading, a decline of 76% from the average daily volume of 1,769,132 shares. The stock had previously closed at C$8.96.

Analyst Upgrades and Downgrades

Several research analysts have commented on IMG shares. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. National Bankshares boosted their price target on IAMGOLD from C$12.00 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$8.68.

IAMGOLD Trading Down 8.9 %

The business has a 50 day simple moving average of C$8.28 and a two-hundred day simple moving average of C$7.53. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The stock has a market cap of C$3.32 billion, a price-to-earnings ratio of 4.23, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

Insider Activity at IAMGOLD

In other news, Senior Officer Timothy Bradburn sold 16,800 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total value of C$136,080.00. 0.10% of the stock is owned by insiders.

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.