Royal Bank of Canada Trims Iamgold (IAG) Target Price to $3.25

Iamgold (NYSE:IAG) (TSE:IMG) had its price objective decreased by equities researchers at Royal Bank of Canada from $5.00 to $3.25 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the mining company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 28.46% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Desjardins raised Iamgold from a “hold” rating to a “buy” rating in a research note on Monday, January 28th. BMO Capital Markets reiterated a “buy” rating on shares of Iamgold in a report on Friday, February 15th. Canaccord Genuity reiterated a “buy” rating on shares of Iamgold in a report on Friday, February 15th. Macquarie upgraded Iamgold from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $2.75 to $2.83 in a report on Tuesday, January 22nd. Finally, ValuEngine upgraded Iamgold from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $4.18.

Shares of Iamgold stock traded down $0.03 during trading on Tuesday, reaching $2.53. 3,294,354 shares of the company were exchanged, compared to its average volume of 5,470,826. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.14. Iamgold has a twelve month low of $2.33 and a twelve month high of $6.33. The stock has a market cap of $1.18 billion, a PE ratio of 42.17, a price-to-earnings-growth ratio of 20.72 and a beta of -0.41.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Wednesday, February 20th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Iamgold had a negative return on equity of 0.43% and a negative net margin of 10.67%. The company had revenue of $274.30 million for the quarter, compared to analyst estimates of $273.84 million. During the same period last year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Iamgold will post 0.04 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. bought a new position in Iamgold during the first quarter worth about $34,000. Smithbridge Asset Management Inc. DE bought a new stake in shares of Iamgold in the first quarter valued at about $35,000. K.J. Harrison & Partners Inc bought a new stake in shares of Iamgold in the first quarter valued at about $35,000. Maven Securities LTD bought a new stake in shares of Iamgold in the fourth quarter valued at about $37,000. Finally, Sigma Planning Corp bought a new stake in shares of Iamgold in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 59.04% of the company’s stock.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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