IAMGOLD (NYSE:IAG) PT Raised to $5.40

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price boosted by stock analysts at CIBC from $4.90 to $5.40 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the mining company’s stock. CIBC’s price objective points to a potential upside of 13.21% from the company’s previous close.

A number of other analysts have also recently commented on the company. StockNews.com cut IAMGOLD from a “hold” rating to a “sell” rating in a research note on Friday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research note on Thursday, June 6th. Finally, Scotiabank lifted their price target on shares of IAMGOLD from $4.50 to $4.75 and gave the stock a “sector perform” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Hold” and an average target price of $4.13.

IAMGOLD Trading Up 11.4 %

IAG stock traded up $0.49 during midday trading on Monday, reaching $4.77. The company’s stock had a trading volume of 15,044,803 shares, compared to its average volume of 9,177,682. The business’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $3.50. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $4.78. The stock has a market cap of $2.72 billion, a PE ratio of 16.96 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The business had revenue of $385.30 million for the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, sell-side analysts expect that IAMGOLD will post 0.33 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of IAMGOLD by 8.2% in the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after purchasing an additional 3,935,250 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in IAMGOLD by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after buying an additional 298,959 shares during the last quarter. Helikon Investments Ltd lifted its position in IAMGOLD by 250.5% during the 1st 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. Vanguard Group Inc. boosted its stake in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after buying an additional 168,302 shares during the last quarter. Finally, Polunin Capital Partners Ltd grew its holdings in shares of IAMGOLD by 12.1% in the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock valued at $29,954,000 after acquiring an additional 968,104 shares in the last quarter. 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.