IAMGOLD (NYSE:IAG) Stock Price Expected to Rise, CIBC Analyst Says

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price target increased by CIBC from $7.60 to $8.40 in a research report sent to investors on Thursday morning, Marketbeat.com reports. CIBC currently has an outperformer rating on the mining company’s stock.

Several other research firms have also recently commented on IAG. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.90.

IAMGOLD Trading Down 2.5 %

Shares of IAG stock opened at $6.05 on Thursday. The business’s 50 day moving average is $5.93 and its two-hundred day moving average is $5.54. IAMGOLD has a twelve month low of $3.01 and a twelve month high of $6.69. The company has a market capitalization of $3.46 billion, a P/E ratio of 4.17 and a beta of 1.63. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities analysts forecast that IAMGOLD will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. RCF Management L.L.C. acquired a new stake in IAMGOLD during the fourth quarter valued at approximately $128,174,000. Millennium Management LLC grew its holdings 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 valued at $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. FMR LLC grew its holdings in shares of IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of IAMGOLD by 130.6% during the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after purchasing an additional 3,049,252 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.