IAMGOLD Co. (NYSE:IAG) Receives $6.57 Consensus Price Target from Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.57.

A number of brokerages have recently commented on IAG. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $6.07 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.47 billion, a P/E ratio of 4.18 and a beta of 1.63. The business has a 50-day moving average price of $5.89 and a two-hundred day moving average price of $5.51. IAMGOLD has a 1-year low of $2.90 and a 1-year high of $6.69.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in IAMGOLD by 0.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock worth $161,167,000 after buying an additional 216,751 shares during the period. RCF Management L.L.C. bought a new position in IAMGOLD during the 4th quarter worth $128,174,000. Vanguard Group Inc. increased its position in IAMGOLD by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after buying an additional 321,458 shares during the period. Millennium Management LLC increased its position in IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after buying an additional 4,846,254 shares during the period. Finally, American Century Companies Inc. increased its position in IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after buying an additional 2,092,803 shares during the period. 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.