IAMGOLD (NYSE:IAG) PT Raised to $4.90

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price target hoisted by analysts at CIBC from $4.80 to $4.90 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the mining company’s stock. CIBC’s price objective would suggest a potential upside of 16.95% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, Scotiabank upped their price target on shares of IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.02.

IAMGOLD Stock Up 2.9 %

IAG traded up $0.12 during trading on Wednesday, reaching $4.19. 11,450,389 shares of the stock were exchanged, compared to its average volume of 8,955,519. The stock has a market cap of $2.39 billion, a P/E ratio of 14.96 and a beta of 1.56. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59. The stock’s 50 day moving average price is $3.88 and its two-hundred day moving average price is $3.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The business had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities analysts expect that IAMGOLD will post 0.28 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC bought a new stake in IAMGOLD during the first quarter worth about $50,000. Virtu Financial LLC lifted its holdings in shares of IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after acquiring an additional 309,836 shares during the last quarter. Linscomb Wealth Inc. bought a new position in shares of IAMGOLD in the first quarter worth about $67,000. Donald Smith & CO. Inc. lifted its holdings in shares of IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock worth $120,137,000 after acquiring an additional 298,959 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after acquiring an additional 168,302 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.