IAMGOLD (TSE:IMG) Trading Down 5% – Time to Sell?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares were down 5% during mid-day trading on Friday . The stock 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 Ratings Changes

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

IAMGOLD Price Performance

The firm has a market capitalization of C$3.32 billion, a price-to-earnings ratio of 4.23, a P/E/G ratio of -0.28 and a beta of 1.47. The company’s 50 day moving average is C$8.28 and its 200-day moving average is 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.

Insider Activity 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 shares were sold at an average price of C$8.10, for a total value of C$136,080.00. 0.10% of the stock is currently owned by company insiders.

About IAMGOLD

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.