IAMGOLD Co. (NYSE:IAG) Receives $6.90 Average Price Target from Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $7.23.

A number of equities research analysts have recently issued reports on IAG shares. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Raymond James reissued a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Tobam purchased a new position in shares of IAMGOLD during the fourth quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at approximately $56,000. Atria Wealth Solutions Inc. bought a new stake in shares of IAMGOLD in the 4th quarter worth approximately $68,000. Finally, Choreo LLC purchased a new position in IAMGOLD during the fourth quarter valued at $88,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Up 12.0 %

NYSE IAG opened at $6.51 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $6.04 and its two-hundred day simple moving average is $5.64. IAMGOLD has a twelve month low of $3.44 and a twelve month high of $6.69. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 4.49 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. Research analysts forecast that IAMGOLD will post 0.67 EPS for the current fiscal year.

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.