IAMGOLD Co. (NYSE:IAG) Receives $6.68 Consensus Price Target from Analysts

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $6.68.

Several equities analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. JPMorgan Chase & Co. raised its stake in IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after purchasing an additional 604,259 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at about $267,000. Toronto Dominion Bank raised its position in shares of IAMGOLD by 15.6% in the third quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock valued at $1,435,000 after buying an additional 37,005 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after buying an additional 6,874 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in IAMGOLD during the third quarter worth about $1,083,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Down 0.8 %

NYSE:IAG opened at $5.16 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market capitalization of $2.95 billion, a P/E ratio of 4.03 and a beta of 1.56. The company’s 50-day simple moving average is $5.45 and its 200-day simple moving average is $4.86. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37.

IAMGOLD Company Profile

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.