IAMGOLD (NYSE:IAG) PT Raised to $6.40 at CIBC

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price upped by research analysts at CIBC from $5.40 to $6.40 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the mining company’s stock. CIBC’s price objective suggests a potential upside of 4.75% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.75 to $10.50 in a research note on Tuesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.07.

IAMGOLD Stock Down 0.7 %

Shares of NYSE IAG traded down $0.04 during trading on Tuesday, hitting $6.11. The stock had a trading volume of 10,285,820 shares, compared to its average volume of 9,177,280. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The firm has a fifty day moving average of $5.12 and a two-hundred day moving average of $4.32. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The company has a market capitalization of $3.48 billion, a PE ratio of 21.82 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the prior year, the business earned ($0.01) EPS. As a group, equities research analysts forecast that IAMGOLD will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC boosted its stake in IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares during the period. Helikon Investments Ltd lifted its holdings in shares of 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 buying an additional 23,485,183 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of IAMGOLD in the first quarter valued at approximately $389,000. BNP Paribas Financial Markets boosted its position in shares of IAMGOLD by 326.7% in the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock valued at $2,029,000 after acquiring an additional 466,620 shares during the period. Finally, American Century Companies Inc. increased its holdings in IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after acquiring an additional 1,270,608 shares during the period. Institutional investors 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.