IAMGOLD Co. (NYSE:IAG) Receives $7.74 Consensus PT from Analysts

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.74.

Several equities research analysts recently issued reports on IAG shares. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. BMO Capital Markets initiated coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Wall Street Zen lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. CIBC increased their price objective on IAMGOLD from $8.40 to $9.20 and gave the company an “outperformer” rating in a research note on Thursday, May 8th. Finally, Raymond James reiterated a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th.

Institutional Investors Weigh In On IAMGOLD

A number of large investors have recently modified their holdings of IAG. Tobam acquired a new position in shares of IAMGOLD during the fourth quarter worth $25,000. Summit Securities Group LLC acquired a new stake in IAMGOLD in the first quarter valued at $35,000. Blue Trust Inc. lifted its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after buying an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC acquired a new position in shares of IAMGOLD during the 4th quarter worth about $56,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD during the 4th quarter worth about $68,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

IAMGOLD stock opened at $7.06 on Friday. The company’s 50 day simple moving average is $6.71 and its 200-day simple moving average is $6.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a 1 year low of $3.44 and a 1 year high of $8.38. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 4.87 and a beta of 1.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. As a group, equities research analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

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.