Analysts Set IAMGOLD Co. (NYSE:IAG) Price Target at $3.55

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

Several brokerages have recently weighed in on IAG. CIBC upped their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Scotiabank raised their target price on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, BMO Capital Markets raised their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th.

IAMGOLD Price Performance

IAG stock opened at $3.79 on Friday. The firm has a market cap of $1.88 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $3.92. The stock has a 50-day simple moving average of $3.21 and a 200-day simple moving average of $2.71.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. On average, equities analysts predict that IAMGOLD will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the company. Polunin Capital Partners Ltd grew its position in shares of IAMGOLD by 12.1% in the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock worth $29,954,000 after acquiring an additional 968,104 shares in the last quarter. Helikon Investments Ltd lifted 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 worth $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. P Schoenfeld Asset Management LP boosted its holdings in IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after purchasing an additional 822,149 shares during the period. CIBC Asset Management Inc increased its stake in IAMGOLD by 3.4% during the fourth quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock valued at $1,138,000 after purchasing an additional 14,620 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in IAMGOLD by 2.8% during the fourth quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock valued at $3,135,000 after purchasing an additional 33,959 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.