IAMGOLD Co. (NYSE:IAG) Receives $4.02 Average Price Target from Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.02.

A number of equities research analysts have weighed in on IAG shares. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Scotiabank raised their price objective on IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a report on Thursday, June 6th. BMO Capital Markets reissued an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, CIBC lifted their target price on IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a report on Wednesday, July 10th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IAG. TD Asset Management Inc increased its position in IAMGOLD by 14.3% in the 2nd quarter. TD Asset Management Inc now owns 1,431,397 shares of the mining company’s stock valued at $5,377,000 after buying an additional 178,548 shares in the last quarter. TIAA Trust National Association bought a new stake in IAMGOLD in the 2nd quarter valued at about $38,000. CIBC Asset Management Inc increased its position in IAMGOLD by 28.1% in the 2nd quarter. CIBC Asset Management Inc now owns 680,499 shares of the mining company’s stock valued at $2,555,000 after buying an additional 149,433 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in IAMGOLD in the 2nd quarter valued at about $56,000. Finally, Intact Investment Management Inc. increased its position in IAMGOLD by 99.2% in the 2nd quarter. Intact Investment Management Inc. now owns 1,313,100 shares of the mining company’s stock valued at $4,933,000 after buying an additional 654,000 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Price Performance

Shares of NYSE IAG opened at $3.86 on Monday. The firm has a market cap of $2.20 billion, a P/E ratio of 13.79 and a beta of 1.56. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $4.59. The business’s 50 day moving average is $3.89 and its 200-day moving average is $3.45.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The firm had revenue of $338.90 million for the quarter. During the same quarter last year, the business earned $0.05 EPS. Equities research analysts predict that IAMGOLD will post 0.33 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.