IAMGOLD (NYSE:IAG) Price Target Raised to $5.00

IAMGOLD (NYSE:IAGFree Report) (TSE:IMG) had its price objective hoisted by CIBC from $4.00 to $5.00 in a report published on Tuesday, BayStreet.CA reports. They currently have a neutral rating on the mining company’s stock.

Several other research analysts have also weighed in on the stock. Scotiabank upped their price objective on shares of IAMGOLD from $3.75 to $4.25 and gave the company a sector perform rating in a research note on Monday, May 13th. BMO Capital Markets upped their price objective on shares of IAMGOLD from $4.50 to $5.00 and gave the company an outperform rating in a research note on Tuesday. StockNews.com lowered shares of IAMGOLD from a hold rating to a sell rating in a research note on Thursday, May 16th. Finally, National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $4.00.

Read Our Latest Analysis on IAMGOLD

IAMGOLD Stock Down 3.6 %

IAG stock opened at $3.87 on Tuesday. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $4.59. The company’s 50 day simple moving average is $3.67 and its 200-day simple moving average is $2.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. The firm has a market capitalization of $1.92 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.45 and a beta of 1.68.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last released its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, equities research analysts anticipate that IAMGOLD will post 0.25 EPS for the current year.

Institutional Trading of IAMGOLD

Several large investors have recently added to or reduced their stakes in IAG. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the 4th quarter worth $26,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter worth $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of IAMGOLD during the 4th quarter worth $33,000. Koshinski Asset Management Inc. bought a new stake in shares of IAMGOLD during the 4th quarter worth $34,000. Finally, RWA Wealth Partners LLC bought a new stake in shares of IAMGOLD during the 4th quarter worth $53,000. 47.08% of the stock is owned by institutional investors.

About IAMGOLD

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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.

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