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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of some unusual options trading activity on Wednesday. Investors bought 12,906 call options on the company. This is an increase of approximately 373% compared to the average daily volume of 2,729 call options.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tobam bought a new position in shares of IAMGOLD during the 4th quarter worth $25,000. Blue Trust Inc. grew its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD during the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. purchased a new stake in shares of IAMGOLD in the 4th quarter worth approximately $68,000. Finally, Alpha Omega Wealth Management LLC purchased a new position in IAMGOLD during the first quarter valued at approximately $75,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets began coverage on IAMGOLD in a research note on Wednesday. They set an “outperform” rating on the stock. Scotiabank boosted their target price on IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a research report on Monday. CIBC restated an “outperform” rating on shares of IAMGOLD in a research report on Thursday, March 20th. Raymond James reiterated a “market perform” rating and set a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Finally, StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

IAMGOLD Stock Up 9.1 %

Shares of IAG opened at $8.12 on Thursday. The firm has a market capitalization of $4.65 billion, a P/E ratio of 5.60 and a beta of 1.52. IAMGOLD has a 12-month low of $3.44 and a 12-month high of $8.38. The firm has a fifty day moving average price of $6.13 and a 200-day moving average price of $5.71. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued 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 return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. Equities research analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

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.