IAMGOLD (NYSE:IAG) (TSE:IMG) has been given a $7.00 target price by equities researchers at BMO Capital Markets in a report released on Tuesday, December 19th. The brokerage presently has a “buy” rating on the mining company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 20.90% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Scotiabank reiterated a “hold” rating on shares of IAMGOLD in a research report on Tuesday, November 14th. CIBC upgraded shares of IAMGOLD from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $6.93 to $7.00 in a research report on Wednesday, September 6th. Desjardins reiterated a “buy” rating on shares of IAMGOLD in a research report on Monday, December 11th. Canaccord Genuity downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating and set a $8.07 price target on the stock. in a research report on Friday, September 29th. Finally, Royal Bank of Canada set a $7.00 target price on shares of IAMGOLD and gave the company a “hold” rating in a research report on Tuesday, August 29th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. IAMGOLD has a consensus rating of “Buy” and an average target price of $7.01.
Shares of IAMGOLD (IAG) traded up $0.01 during trading hours on Tuesday, hitting $5.79. 3,464,316 shares of the stock traded hands, compared to its average volume of 4,897,502. IAMGOLD has a 52 week low of $3.36 and a 52 week high of $7.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.78 and a quick ratio of 3.85. The firm has a market cap of $2,710.00, a P/E ratio of 5.31, a PEG ratio of 22.65 and a beta of -0.57.
IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, November 7th. The mining company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $268.80 million for the quarter, compared to the consensus estimate of $268.62 million. IAMGOLD had a net margin of 48.66% and a return on equity of 1.81%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. equities research analysts predict that IAMGOLD will post 0.09 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of IAMGOLD by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock valued at $346,069,000 after acquiring an additional 880,887 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of IAMGOLD by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 18,851,800 shares of the mining company’s stock valued at $97,275,000 after acquiring an additional 873,700 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of IAMGOLD by 9.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company’s stock valued at $48,980,000 after acquiring an additional 838,766 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of IAMGOLD by 21.1% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,294,577 shares of the mining company’s stock valued at $50,597,000 after acquiring an additional 1,444,277 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of IAMGOLD by 1.2% in the 2nd quarter. Franklin Resources Inc. now owns 5,452,000 shares of the mining company’s stock valued at $28,132,000 after acquiring an additional 65,000 shares during the last quarter. 56.04% of the stock is owned by institutional investors.
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IAMGOLD Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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