IAMGOLD (NYSE:IAG) Stock Price Up 3.9% After Analyst Upgrade

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG)’s share price rose 3.9% on Thursday after Scotiabank raised their price target on the stock from $4.25 to $4.50. Scotiabank currently has a sector perform rating on the stock. IAMGOLD traded as high as $3.99 and last traded at $3.98. Approximately 659,780 shares traded hands during trading, a decline of 93% from the average daily volume of 9,128,822 shares. The stock had previously closed at $3.83.

IAG has been the subject of several other research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price target on shares of IAMGOLD in a research report on Thursday. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC lifted their price target on IAMGOLD from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.04.

Get Our Latest Stock Analysis on IAG

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IAG. Barclays PLC grew its stake in shares of IAMGOLD by 1.9% during the third quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock valued at $631,000 after buying an additional 5,470 shares during the last quarter. Swiss National Bank boosted its holdings in shares of IAMGOLD by 2.2% in the third quarter. Swiss National Bank now owns 1,013,000 shares of the mining company’s stock valued at $2,204,000 after purchasing an additional 22,000 shares during the period. Deutsche Bank AG boosted its holdings in shares of IAMGOLD by 2,614.5% in the third quarter. Deutsche Bank AG now owns 723,018 shares of the mining company’s stock valued at $1,554,000 after purchasing an additional 696,383 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of IAMGOLD in the third quarter valued at approximately $916,000. Finally, Aigen Investment Management LP boosted its holdings in shares of IAMGOLD by 520.5% in the third quarter. Aigen Investment Management LP now owns 87,114 shares of the mining company’s stock valued at $188,000 after purchasing an additional 73,074 shares during the period. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Up 3.7 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. The stock has a market cap of $2.26 billion, a PE ratio of 14.18 and a beta of 1.66. The business has a fifty day moving average of $3.84 and a 200-day moving average of $3.03.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last posted its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The company had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter in the prior year, the company earned $0.05 EPS. Equities research analysts anticipate that IAMGOLD Co. will post 0.28 earnings per share for the current year.

About IAMGOLD

(Get Free Report)

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.

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