IAMGOLD Co. (NYSE:IAG – Get Free Report) (TSE:IMG) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.73.
Several research analysts have recently commented on the company. Scotiabank boosted their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Finally, CIBC boosted their price objective on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research note on Monday, August 12th.
View Our Latest Research Report on IAMGOLD
IAMGOLD Trading Down 0.4 %
IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the previous year, the business earned ($0.01) earnings per share. Equities analysts forecast that IAMGOLD will post 0.49 EPS for the current fiscal year.
Institutional Investors Weigh In On IAMGOLD
A number of large investors have recently modified their holdings of IAG. 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. Van ECK Associates Corp increased its position in shares of IAMGOLD by 8.2% in the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after acquiring an additional 3,935,250 shares during the period. BNP Paribas Financial Markets raised its stake in IAMGOLD by 326.7% in the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the last quarter. Headlands Technologies LLC acquired a new stake in IAMGOLD during the 1st quarter worth about $389,000. Finally, Vanguard Group Inc. lifted its position in IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after acquiring an additional 168,302 shares during the period. Hedge funds and other institutional investors 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.
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