IAMGOLD (NYSE:IAG) Given New $4.75 Price Target at Scotiabank

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price objective boosted by Scotiabank from $4.50 to $4.75 in a research note published on Monday morning, Benzinga reports. They currently have a sector perform rating on the mining company’s stock.

Other analysts also recently issued reports about the company. BMO Capital Markets reissued an outperform rating and issued a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. StockNews.com cut IAMGOLD from a hold rating to a sell rating in a research note on Friday. Finally, CIBC upped their price objective on shares of IAMGOLD from $4.80 to $4.90 and gave the company a neutral rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $4.13.

IAMGOLD Trading Down 1.9 %

NYSE IAG opened at $4.63 on Monday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 16.86 and a beta of 1.56. The business’s fifty day moving average is $3.89 and its 200-day moving average is $3.51. 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 has a one year low of $1.99 and a one year high of $4.78.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The firm had revenue of $385.30 million for the quarter. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Equities research analysts predict that IAMGOLD will post 0.33 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently modified their holdings of IAG. Van ECK Associates Corp lifted its stake in IAMGOLD by 8.2% in the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after purchasing an additional 3,935,250 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in IAMGOLD by 0.8% during the first 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 period. Helikon Investments Ltd grew its position in IAMGOLD by 250.5% during the first 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. increased its stake in IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after acquiring an additional 168,302 shares during the last quarter. Finally, Polunin Capital Partners Ltd raised 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. 47.08% of the stock is currently owned by institutional investors.

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.