Stock Traders Purchase Large Volume of Call Options on IAMGOLD (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of unusually large options trading on Wednesday. Investors acquired 12,906 call options on the stock. This represents an increase of 373% compared to the average volume of 2,729 call options.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently made changes to their positions in IAG. RCF Management L.L.C. purchased a new stake in shares of IAMGOLD during the fourth quarter worth approximately $128,174,000. Millennium Management LLC grew its holdings in shares of IAMGOLD by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after buying an additional 4,846,254 shares in the last quarter. Invesco Ltd. raised its position in shares of IAMGOLD by 41.6% in the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock valued at $36,842,000 after buying an additional 2,098,215 shares during the last quarter. American Century Companies Inc. boosted its position in IAMGOLD by 25.9% during the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after acquiring an additional 2,092,803 shares during the last quarter. Finally, Cibc World Market Inc. grew its stake in IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after acquiring an additional 1,795,869 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Down 3.4 %

Shares of IAG opened at $7.82 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.47 billion, a P/E ratio of 5.39 and a beta of 1.52. The stock’s 50 day moving average is $6.16 and its two-hundred day moving average is $5.72. IAMGOLD has a 12 month low of $3.44 and a 12 month high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. Analysts predict that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IAG. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. BMO Capital Markets started coverage on shares of IAMGOLD in a research report on Wednesday. They set an “outperform” rating on the stock. Scotiabank lifted their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research note on Monday. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Raymond James reaffirmed a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.57.

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.