Brokerages Set IAMGOLD Co. (NYSE:IAG) Price Target at $4.33

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.33.

A number of research analysts recently commented on IAG shares. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. Scotiabank boosted their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, CIBC increased their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research note on Monday, August 12th.

IAMGOLD Stock Up 1.7 %

Shares of IAG opened at $5.03 on Friday. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $5.31. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $4.25 and a two-hundred day simple moving average of $3.74. The company has a market capitalization of $2.86 billion, a PE ratio of 17.95 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, equities analysts forecast that IAMGOLD will post 0.33 EPS for the current year.

Institutional Trading of IAMGOLD

Several hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in IAMGOLD by 133.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock worth $11,246,000 after buying an additional 1,712,640 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of IAMGOLD by 21.4% in the second quarter. The Manufacturers Life Insurance Company now owns 453,726 shares of the mining company’s stock worth $1,702,000 after acquiring an additional 79,955 shares in the last quarter. Millennium Management LLC grew its stake in shares of IAMGOLD by 194.2% in the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. Toronto Dominion Bank increased its position in shares of IAMGOLD by 512.0% during the second quarter. Toronto Dominion Bank now owns 237,372 shares of the mining company’s stock worth $890,000 after acquiring an additional 198,585 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of IAMGOLD by 1,002.6% in the second quarter. Cubist Systematic Strategies LLC now owns 424,452 shares of the mining company’s stock valued at $1,592,000 after acquiring an additional 385,955 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.