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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of unusually large options trading on Friday. Traders bought 4,720 call options on the company. This is an increase of approximately 116% compared to the typical volume of 2,183 call options.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently modified their holdings of IAG. PKO Investment Management Joint Stock Co bought a new stake in IAMGOLD during the fourth quarter valued at about $1,241,000. Polar Asset Management Partners Inc. bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $5,832,000. Mackenzie Financial Corp increased its holdings in IAMGOLD by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,123,756 shares of the mining company’s stock worth $26,456,000 after acquiring an additional 338,297 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in IAMGOLD by 0.8% during 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 worth $3,099,000 after acquiring an additional 5,053 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in IAMGOLD by 5.3% during the fourth 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 in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IAG shares. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of $6.90.

IAMGOLD Price Performance

NYSE IAG opened at $6.29 on Friday. The company has a 50-day moving average price of $5.99 and a 200-day moving average price of $5.58. IAMGOLD has a 52 week low of $3.44 and a 52 week high of $6.69. 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 firm has a market capitalization of $3.60 billion, a P/E ratio of 4.33 and a beta of 1.63.

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

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.