IAMGOLD (NYSE:IAG) Now Covered by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of IAMGOLD (NYSE:IAG) (TSE:IMG) in a report released on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating on the mining company’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. CIBC reiterated an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Scotiabank raised their price target on IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a research note on Monday. Raymond James reaffirmed a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research note on Friday, April 4th. Finally, National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.57.

IAMGOLD Trading Up 9.1 %

IAG opened at $8.12 on Wednesday. The stock has a 50-day moving average of $6.13 and a 200 day moving average of $5.71. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a 12 month low of $3.44 and a 12 month high of $8.38. The firm has a market cap of $4.65 billion, a P/E ratio of 5.60 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 the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. As a group, research analysts forecast that IAMGOLD will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. RCF Management L.L.C. purchased a new position in IAMGOLD in the fourth quarter worth $128,174,000. Millennium Management LLC raised its stake in IAMGOLD by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock valued at $53,307,000 after buying an additional 4,846,254 shares during the last quarter. Invesco Ltd. boosted its holdings in IAMGOLD by 41.6% in the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock worth $36,842,000 after acquiring an additional 2,098,215 shares in the last quarter. American Century Companies Inc. grew its stake in shares of IAMGOLD by 25.9% during the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after acquiring an additional 2,092,803 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in shares of IAMGOLD by 54.0% in the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after purchasing an additional 1,795,869 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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.