Investors Purchase Large Volume of IAMGOLD Call Options (NYSE:IAG)

Posted by Defense World Staff on Jun 8th, 2023

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) was the recipient of some unusual options trading on Wednesday. Stock investors bought 40,593 call options on the stock. This is an increase of 2,412% compared to the average daily volume of 1,616 call options.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IAG. National Bank Financial cut their price objective on IAMGOLD from C$4.10 to C$4.00 in a research report on Tuesday, February 14th. BMO Capital Markets assumed coverage on IAMGOLD in a research note on Monday, May 1st. They issued an “outperform” rating and a $3.25 price target on the stock. Finally, StockNews.com began coverage on IAMGOLD in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.89.

IAMGOLD Stock Down 3.5 %

Shares of NYSE:IAG opened at $2.91 on Thursday. The business’s 50-day moving average is $2.94 and its 200-day moving average is $2.60. IAMGOLD has a 1 year low of $0.92 and a 1 year high of $3.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.44 and a quick ratio of 1.88. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -16.11, a P/E/G ratio of 30.93 and a beta of 1.45.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its holdings in IAMGOLD by 14.0% during the first quarter. Van ECK Associates Corp now owns 51,174,133 shares of the mining company’s stock valued at $138,678,000 after purchasing an additional 6,269,790 shares during the period. Kopernik Global Investors LLC boosted its stake in IAMGOLD by 1.0% during the fourth quarter. Kopernik Global Investors LLC now owns 24,042,429 shares of the mining company’s stock valued at $62,029,000 after buying an additional 239,188 shares during the period. Renaissance Technologies LLC boosted its stake in IAMGOLD by 0.7% during the first quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock valued at $46,308,000 after buying an additional 124,300 shares during the period. Vanguard Group Inc. boosted its stake in IAMGOLD by 2.9% during the third quarter. Vanguard Group Inc. now owns 16,240,870 shares of the mining company’s stock valued at $17,378,000 after buying an additional 460,969 shares during the period. Finally, Two Sigma Investments LP boosted its stake in IAMGOLD by 492.0% during the first quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company’s stock valued at $19,742,000 after buying an additional 6,054,262 shares during the period. 48.57% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Company Profile

(Get Rating)

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.