IAMGOLD Co. (NYSE:IAG) Receives $7.57 Consensus Price Target from Analysts

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG have earned an average rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.57.

IAG has been the topic of a number of recent analyst reports. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. CIBC reissued an "outperform" rating on shares of IAMGOLD in a research report on Thursday, March 20th. Raymond James reaffirmed a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. Finally, BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating for the company.

IAMGOLD Stock Up 3.1 %

NYSE:IAG traded up $0.21 during trading hours on Wednesday, reaching $6.93. 15,351,247 shares of the stock were exchanged, compared to its average volume of 10,260,726. The stock has a market cap of $3.98 billion, a PE ratio of 4.78 and a beta of 1.52. IAMGOLD has a twelve month low of $3.44 and a twelve month high of $8.38. The firm has a 50 day moving average of $6.41 and a 200 day moving average of $5.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data 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 business had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. On average, equities analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Teachers Retirement System of The State of Kentucky bought a new position in shares of IAMGOLD in the 1st quarter valued at $3,975,000. Apollon Wealth Management LLC increased its stake in shares of IAMGOLD by 74.2% in the first quarter. Apollon Wealth Management LLC now owns 35,229 shares of the mining company's stock valued at $220,000 after buying an additional 15,000 shares during the period. Cerity Partners LLC raised its holdings in IAMGOLD by 28.0% in the 1st quarter. Cerity Partners LLC now owns 75,250 shares of the mining company's stock valued at $470,000 after buying an additional 16,475 shares during the last quarter. Alps Advisors Inc. bought a new stake in IAMGOLD during the 1st quarter worth approximately $840,000. Finally, Ninety One UK Ltd bought a new position in shares of IAMGOLD during the first quarter valued at $14,678,000. 47.08% of the stock is owned by institutional investors.

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.