IAMGOLD Co. (NYSE:IAG) Receives $4.01 Consensus Price Target from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $4.02.

A number of research firms have issued reports on IAG. Scotiabank increased their target price on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a report on Thursday, June 6th. CIBC increased their target price on shares of IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 target price on shares of IAMGOLD in a report on Thursday, June 6th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Euro Pacific Asset Management LLC grew its position in shares of IAMGOLD by 48.1% in the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after buying an additional 885,697 shares during the last quarter. Norges Bank purchased a new position in IAMGOLD during the 4th quarter worth $8,642,000. P Schoenfeld Asset Management LP grew its position in IAMGOLD by 11.1% during the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after purchasing an additional 822,149 shares during the last quarter. Helikon Investments Ltd grew its position in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its position in IAMGOLD by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after purchasing an additional 4,358,444 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

Shares of IAG stock opened at $4.19 on Thursday. The firm’s 50 day moving average price is $3.90 and its 200-day moving average price is $3.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91. IAMGOLD has a one year low of $1.99 and a one year high of $4.59. The firm has a market cap of $2.38 billion, a P/E ratio of 14.95 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The company had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter last year, the company earned $0.05 earnings per share. As a group, equities research analysts predict that IAMGOLD will post 0.28 EPS for the current year.

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.