IAMGOLD Co. (NYSE:IAG) Receives $6.68 Consensus Price Target from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.68.

Several brokerages have issued reports on IAG. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Scotiabank upped their price target on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently modified their holdings of IAG. ORG Partners LLC purchased a new stake in IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD during the third quarter valued at $30,000. TIAA Trust National Association acquired a new position in shares of IAMGOLD in the 2nd quarter valued at $38,000. Cetera Advisors LLC purchased a new position in IAMGOLD in the 1st quarter worth $50,000. Finally, WINTON GROUP Ltd acquired a new stake in IAMGOLD during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

NYSE IAG opened at $5.69 on Wednesday. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 4.45 and a beta of 1.57. The company has a 50-day simple moving average of $5.28 and a two-hundred day simple moving average of $4.50. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. IAMGOLD has a 12-month low of $2.11 and a 12-month high of $6.37.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The company had revenue of $385.30 million for the quarter. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, equities analysts forecast that IAMGOLD will post 0.53 EPS 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.