IAMGOLD Co. (NYSE:IAG) Receives Average Rating of “Hold” from Brokerages

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

Several research analysts recently weighed in on the company. CIBC increased their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Scotiabank lifted their price objective on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research note on Monday, August 19th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC grew its holdings in IAMGOLD by 1,034.3% during the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after purchasing an additional 309,836 shares in 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. Headlands Technologies LLC acquired a new stake in shares of IAMGOLD during the first quarter valued at about $389,000. BNP Paribas Financial Markets increased its position in shares of IAMGOLD by 326.7% during the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after acquiring an additional 1,270,608 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Up 3.3 %

Shares of NYSE:IAG opened at $5.08 on Friday. IAMGOLD has a 12-month low of $2.11 and a 12-month high of $5.60. The stock’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $4.27. 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 firm has a market cap of $2.89 billion, a price-to-earnings ratio of 18.14 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, research analysts forecast that IAMGOLD will post 0.49 EPS 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.