IAMGOLD Co. (NYSE:IAG) Receives $7.57 Average Target Price from Brokerages

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

A number of research firms recently weighed in on IAG. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. BMO Capital Markets started coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC restated an "outperform" rating on shares of IAMGOLD in a research report on Thursday, March 20th. StockNews.com downgraded shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Raymond James reiterated a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th.

Institutional Investors Weigh In On IAMGOLD

A number of large investors have recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its position in IAMGOLD by 74.2% during the first quarter. Apollon Wealth Management LLC now owns 35,229 shares of the mining company's stock valued at $220,000 after purchasing an additional 15,000 shares in the last quarter. Cerity Partners LLC boosted its position in shares of IAMGOLD by 28.0% in the first quarter. Cerity Partners LLC now owns 75,250 shares of the mining company's stock worth $470,000 after purchasing an additional 16,475 shares during the period. Alps Advisors Inc. purchased a new stake in shares of IAMGOLD in the first quarter worth $840,000. Ninety One UK Ltd purchased a new position in shares of IAMGOLD during the 1st quarter valued at $14,678,000. Finally, Bank of New York Mellon Corp increased its stake in IAMGOLD by 40.6% in the 1st quarter. Bank of New York Mellon Corp now owns 49,282 shares of the mining company's stock worth $308,000 after buying an additional 14,236 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Price Performance

IAG stock traded up $0.12 during trading on Wednesday, hitting $6.84. 1,414,877 shares of the stock traded hands, compared to its average volume of 10,207,686. 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 cap of $3.93 billion, a price-to-earnings ratio of 4.71 and a beta of 1.52. The company has a 50 day simple moving average of $6.39 and a 200 day simple moving average of $5.91. IAMGOLD has a one year low of $3.44 and a one year high of $8.38.

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

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.