IAMGOLD Co. (NYSE:IAG) Receives $6.90 Average PT from Analysts

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

Several research firms have issued reports on IAG. Raymond James restated a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research note on Friday. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Finally, CIBC reiterated an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th.

IAMGOLD Price Performance

IAG stock opened at $5.66 on Friday. The business has a 50 day moving average price of $6.04 and a 200 day moving average price of $5.62. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 3.90 and a beta of 1.52. IAMGOLD has a fifty-two week low of $3.44 and a fifty-two week high of $6.69.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IAG. Donald Smith & CO. Inc. grew its position in IAMGOLD by 0.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock valued at $161,167,000 after buying an additional 216,751 shares during the last quarter. RCF Management L.L.C. acquired a new stake in shares of IAMGOLD in the 4th quarter worth $128,174,000. Vanguard Group Inc. boosted its holdings in shares of IAMGOLD by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock valued at $109,741,000 after acquiring an additional 321,458 shares in the last quarter. Millennium Management LLC increased its stake in shares of IAMGOLD by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the period. Finally, American Century Companies Inc. raised its holdings in IAMGOLD by 25.9% during the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after purchasing an additional 2,092,803 shares in the last quarter. Institutional investors and hedge funds 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.