IAMGOLD Co. (NYSE:IAG) Receives $4.73 Average Price Target from Brokerages

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received an average recommendation of “Hold” from the four research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.73.

A number of research firms recently commented on IAG. CIBC increased their price target on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Scotiabank increased their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. BMO Capital Markets restated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its position in IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after buying an additional 309,836 shares during the last quarter. Norges Bank bought a new position in IAMGOLD in the 4th quarter valued at $8,642,000. P Schoenfeld Asset Management LP boosted its position in IAMGOLD by 11.1% in the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after buying an additional 822,149 shares during the last quarter. Helikon Investments Ltd boosted its position in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of IAMGOLD in the 1st quarter worth $389,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Trading Up 3.2 %

Shares of IAG opened at $5.48 on Tuesday. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $5.57. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $4.02. The stock has a market cap of $3.12 billion, a PE ratio of 19.57 and a beta of 1.58.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, sell-side analysts predict that IAMGOLD will post 0.41 EPS for the current fiscal 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.