IAMGOLD Co. (NYSE:IAG) Receives $6.90 Consensus Target Price from Brokerages

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.23.

Several research analysts have weighed in on the company. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. CIBC reissued an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James reaffirmed a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in IAG. PKO Investment Management Joint Stock Co bought a new stake in IAMGOLD in the fourth quarter worth $1,241,000. Polar Asset Management Partners Inc. bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $5,832,000. Mackenzie Financial Corp boosted its holdings in IAMGOLD by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,123,756 shares of the mining company’s stock valued at $26,456,000 after acquiring an additional 338,297 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in IAMGOLD by 0.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company’s stock valued at $3,099,000 after acquiring an additional 5,053 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in IAMGOLD by 5.3% in the 4th quarter. Voloridge Investment Management LLC now owns 1,520,218 shares of the mining company’s stock worth $7,844,000 after purchasing an additional 76,856 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

NYSE IAG opened at $7.20 on Friday. The company has a fifty day moving average price of $6.06 and a 200-day moving average price of $5.66. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 4.97 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a 1 year low of $3.44 and a 1 year high of $7.42.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. As a group, equities research analysts predict that IAMGOLD will post 0.67 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.