IAMGOLD (NYSE:IAG) Price Target Increased to $3.75 by Analysts at Scotiabank

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price raised by equities research analysts at Scotiabank from $3.25 to $3.75 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the mining company’s stock. Scotiabank’s price objective indicates a potential upside of 1.63% from the stock’s previous close.

Other research analysts have also issued research reports about the company. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. StockNews.com cut IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday. CIBC raised their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets raised their price target on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Trading Up 0.8 %

IAMGOLD stock traded up $0.03 during trading hours on Thursday, reaching $3.69. The stock had a trading volume of 1,214,829 shares, compared to its average volume of 8,852,056. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The company has a fifty day simple moving average of $3.05 and a 200-day simple moving average of $2.64. The stock has a market cap of $1.83 billion, a PE ratio of 19.32, a PEG ratio of 1.22 and a beta of 1.70. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million during the quarter. Analysts forecast that IAMGOLD will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Advisory LLC bought a new position in IAMGOLD in the 4th quarter worth $25,000. Raymond James Financial Services Advisors Inc. purchased a new stake in IAMGOLD in the 4th quarter worth approximately $26,000. Hsbc Holdings PLC bought a new stake in IAMGOLD during the 3rd quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new position in IAMGOLD during the fourth quarter valued at approximately $29,000. Finally, Citigroup Inc. purchased a new stake in shares of IAMGOLD in the first quarter worth $31,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.