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

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

Analysts Set New Price Targets

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

IAMGOLD Trading Down 9.4 %

The business has a 50 day moving average price of C$8.26 and a 200 day moving average price of C$7.52. The company has a market capitalization of C$3.30 billion, a P/E ratio of 4.21, a PEG ratio of -0.28 and a beta of 1.47. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

Insider Buying and Selling at IAMGOLD

In other IAMGOLD news, Senior Officer Timothy Bradburn sold 16,800 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$8.10, for a total value of C$136,080.00. Insiders own 0.10% 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.