IAMGOLD Co. (NYSE:IAG) Given Average Rating of “Hold” by Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $3.55.

IAG has been the subject of a number of analyst reports. Scotiabank lifted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. BMO Capital Markets raised their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC increased their target price 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. Finally, StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $3.79 on Friday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 0.93 and a beta of 1.70. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $3.92. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $2.71.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. As a group, sell-side analysts predict that IAMGOLD will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds have recently bought and sold shares of the company. Polunin Capital Partners Ltd lifted its position in shares of IAMGOLD by 12.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock worth $29,954,000 after purchasing an additional 968,104 shares during the last quarter. Helikon Investments Ltd increased its position in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares during the period. P Schoenfeld Asset Management LP lifted its holdings in shares of IAMGOLD by 11.1% during the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after buying an additional 822,149 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of IAMGOLD by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock valued at $1,138,000 after acquiring an additional 14,620 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of IAMGOLD by 2.8% in the fourth quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock worth $3,135,000 after acquiring an additional 33,959 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.