Brokerages Set IAMGOLD Co. (NYSE:IAG) PT at $6.57

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.57.

IAG has been the subject of several research reports. Raymond James cut their price objective on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, January 15th. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th.

IAMGOLD Trading Up 4.4 %

NYSE:IAG opened at $6.06 on Monday. The stock has a fifty day moving average price of $5.46 and a two-hundred day moving average price of $5.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 4.73 and a beta of 1.56. IAMGOLD has a 1 year low of $2.32 and a 1 year high of $6.37.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that IAMGOLD will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of IAMGOLD in the third quarter worth about $29,000. Eastern Bank acquired a new stake in IAMGOLD in the third quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares during the period. International Assets Investment Management LLC acquired a new position in shares of IAMGOLD during the third quarter worth $700,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of IAMGOLD in the third quarter valued at $93,000. Hedge funds and other 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.