IAMGOLD (NYSE:IAG) PT Raised to $3.75 at Scotiabank

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price objective raised by research analysts at Scotiabank from $3.25 to $3.75 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price would suggest a potential upside of 2.46% from the stock’s current price.

Several other equities analysts have also commented on IAG. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC upped their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. BMO Capital Markets upped their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Stock Up 0.5 %

IAG stock opened at $3.66 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92. The firm has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $2.65. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.26 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. Research analysts predict that IAMGOLD will post 0.07 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the business. Vident Advisory LLC acquired a new stake in IAMGOLD in the 4th quarter valued at about $25,000. Raymond James Financial Services Advisors Inc. acquired a new stake in IAMGOLD in the 4th quarter valued at about $26,000. Hsbc Holdings PLC acquired a new stake in IAMGOLD in the 3rd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in IAMGOLD in the 4th quarter valued at about $29,000. Finally, Citigroup Inc. acquired a new stake in IAMGOLD in the 1st quarter valued at about $31,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.