Analysts Set IAMGOLD Co. (NYSE:IAG) PT at $4.02

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.02.

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

Institutional Investors Weigh In On IAMGOLD

Institutional investors have recently modified their holdings of the company. Euro Pacific Asset Management LLC grew its stake in shares of IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after buying an additional 885,697 shares in the last quarter. Norges Bank acquired a new stake in shares of IAMGOLD in the fourth quarter valued at $8,642,000. P Schoenfeld Asset Management LP grew its stake in shares of IAMGOLD by 11.1% in the fourth 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 in the last quarter. Helikon Investments Ltd grew its stake in shares of IAMGOLD by 250.5% in the first 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 in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of IAMGOLD in the first quarter valued at $389,000. 47.08% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Stock Performance

NYSE IAG opened at $3.86 on Monday. The company has a market cap of $2.20 billion, a PE ratio of 13.79 and a beta of 1.56. The stock’s 50 day simple moving average is $3.89 and its 200-day simple moving average is $3.44. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $4.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The business had revenue of $338.90 million for the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter last year, the business earned $0.05 EPS. As a group, equities research analysts anticipate that IAMGOLD will post 0.33 EPS for the current fiscal 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.