IAMGOLD Co. (NYSE:IAG) Receives $7.57 Consensus Price Target from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $7.57.

IAG has been the topic of several research analyst reports. Raymond James restated a “market perform” rating and issued a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. Scotiabank raised their price objective on IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. BMO Capital Markets started coverage on IAMGOLD in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th.

Hedge Funds Weigh In On IAMGOLD

Institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. lifted its holdings in IAMGOLD by 0.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock worth $161,167,000 after buying an additional 216,751 shares in the last quarter. RCF Management L.L.C. acquired a new stake in IAMGOLD in the fourth quarter worth about $128,174,000. Vanguard Group Inc. raised its holdings in IAMGOLD by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after purchasing an additional 321,458 shares during the last quarter. Millennium Management LLC lifted its position in IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock valued at $53,307,000 after purchasing an additional 4,846,254 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of IAMGOLD by 25.9% in the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock valued at $52,499,000 after purchasing an additional 2,092,803 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Performance

Shares of IAG opened at $6.72 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a one year low of $3.44 and a one year high of $8.38. The company’s fifty day moving average price is $6.39 and its 200 day moving average price is $5.90. The company has a market capitalization of $3.86 billion, a PE ratio of 4.63 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. As a group, analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

About IAMGOLD

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.