Analysts Set IAMGOLD Co. (NYSE:IAG) PT at $4.73

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received a consensus recommendation of “Hold” from the four research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.73.

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

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of IAG. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after buying an additional 5,204,715 shares during the period. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after buying an additional 3,935,250 shares in the last quarter. Norges Bank purchased a new position in shares of IAMGOLD during the fourth quarter valued at $8,642,000. Finally, Mackenzie Financial Corp raised its holdings in shares of IAMGOLD by 133.8% in the second quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock valued at $11,246,000 after acquiring an additional 1,712,640 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Up 0.3 %

IAG opened at $5.31 on Tuesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 18.95 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The firm’s fifty day moving average is $4.61 and its 200 day moving average is $4.00. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $5.57.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million for the quarter. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, sell-side analysts forecast that IAMGOLD will post 0.41 earnings per share for the current fiscal 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.