IAMGOLD Co. (NYSE:IAG) Receives $3.55 Consensus Price Target from Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $3.55.

A number of research firms recently issued reports on IAG. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets increased their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Scotiabank upped their price target on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Finally, CIBC upped their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently added to or reduced their stakes in IAG. Helikon Investments Ltd boosted its stake in IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after purchasing an additional 4,358,444 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of IAMGOLD in the 4th quarter valued at $10,972,000. Norges Bank acquired a new position in shares of IAMGOLD in the 4th quarter valued at $8,642,000. Finally, Van ECK Associates Corp boosted its position in shares of IAMGOLD by 4.0% in the 3rd quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock valued at $100,513,000 after purchasing an additional 1,779,306 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Trading Down 4.5 %

NYSE IAG opened at $3.50 on Friday. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $3.92. The company has a 50-day moving average of $3.11 and a 200-day moving average of $2.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The company has a market cap of $1.74 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.46 and a beta of 1.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million during the quarter. As a group, equities analysts predict that IAMGOLD will post 0.06 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.