IAMGOLD (NYSE:IAG – Get Free Report) TSE: IMG had its price target raised by CIBC from $4.80 to $4.90 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the mining company’s stock. CIBC’s price objective indicates a potential upside of 16.95% from the stock’s previous close.
A number of other brokerages have also issued reports on IAG. BMO Capital Markets restated an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research note on Thursday, June 6th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Scotiabank raised their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and an average price target of $4.02.
IAMGOLD Trading Up 2.9 %
IAG traded up $0.12 during trading on Wednesday, hitting $4.19. 11,450,389 shares of the stock were exchanged, compared to its average volume of 8,955,519. The firm has a 50 day simple moving average of $3.88 and a 200 day simple moving average of $3.24. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 14.96 and a beta of 1.56. 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 quick ratio of 0.55 and a current ratio of 0.91.
IAMGOLD (NYSE:IAG – Get Free Report) TSE: IMG last announced its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) 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 period last year, the business posted $0.05 EPS. As a group, equities analysts expect that IAMGOLD will post 0.28 EPS for the current year.
Hedge Funds Weigh In On IAMGOLD
A number of institutional investors have recently modified their holdings of IAG. Cetera Advisors LLC purchased a new position in shares of IAMGOLD in the 1st quarter valued at about $50,000. Virtu Financial LLC increased its stake in shares of IAMGOLD by 1,034.3% in 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. Linscomb Wealth Inc. purchased a new position in shares of IAMGOLD in the 1st quarter valued at about $67,000. Donald Smith & CO. Inc. increased its stake in shares of 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 purchasing an additional 298,959 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.
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.