IAMGOLD Sees Unusually High Options Volume (NYSE:IAG)

Posted by on Apr 12th, 2023

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) saw unusually large options trading on Tuesday. Stock traders acquired 17,481 call options on the company. This is an increase of 1,172% compared to the average daily volume of 1,374 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. National Bank Financial dropped their target price on IAMGOLD from C$4.10 to C$4.00 in a research note on Tuesday, February 14th. BMO Capital Markets boosted their price target on IAMGOLD from $1.75 to $2.00 and gave the company a “market perform” rating in a research report on Tuesday, December 20th. StockNews.com started coverage on IAMGOLD in a research report on Thursday, March 16th. They issued a “sell” rating for the company. Raymond James upped their target price on IAMGOLD from $2.00 to $2.25 and gave the stock an “underperform” rating in a research report on Tuesday, January 31st. Finally, CIBC raised IAMGOLD from a “sector underperform” rating to a “neutral” rating and set a $2.10 target price for the company in a research report on Tuesday, December 20th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.68.

IAMGOLD Price Performance

IAG opened at $3.03 on Wednesday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -20.20 and a beta of 1.45. The company has a current ratio of 2.35, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. IAMGOLD has a 1 year low of $0.92 and a 1 year high of $3.77. The stock has a fifty day moving average price of $2.52 and a 200 day moving average price of $2.15.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kopernik Global Investors LLC boosted its stake in shares of IAMGOLD by 1.0% during the 4th quarter. Kopernik Global Investors LLC now owns 24,042,429 shares of the mining company’s stock worth $62,029,000 after buying an additional 239,188 shares during the last quarter. Vanguard Group Inc. grew its holdings in IAMGOLD by 2.9% during the third quarter. Vanguard Group Inc. now owns 16,240,870 shares of the mining company’s stock worth $17,378,000 after purchasing an additional 460,969 shares during the period. Norges Bank bought a new position in IAMGOLD during the fourth quarter worth about $12,557,000. Nomura Holdings Inc. bought a new position in IAMGOLD during the fourth quarter worth about $7,776,000. Finally, Bank of Montreal Can grew its holdings in IAMGOLD by 13.9% during the third quarter. Bank of Montreal Can now owns 2,588,008 shares of the mining company’s stock worth $3,171,000 after purchasing an additional 316,639 shares during the period. Institutional investors own 48.57% of the company’s stock.

About IAMGOLD

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

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