IAMGOLD Co. (NYSE:IAG) Receives $7.74 Consensus Price Target from Analysts

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG has received an average rating of "Moderate Buy" from the eight brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.74.

Several equities analysts have recently commented on IAG shares. Wall Street Zen cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. BMO Capital Markets started coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Raymond James restated a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. Scotiabank boosted their target price on shares of IAMGOLD from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its position in IAMGOLD by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock worth $161,167,000 after purchasing an additional 216,751 shares during the period. RCF Management L.L.C. bought a new position in shares of IAMGOLD in the fourth quarter valued at approximately $128,174,000. Vanguard Group Inc. boosted its position in shares of IAMGOLD by 1.7% in the first quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company's stock valued at $134,764,000 after acquiring an additional 361,608 shares during the period. American Century Companies Inc. boosted its position in shares of IAMGOLD by 19.0% in the first quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock valued at $75,489,000 after acquiring an additional 1,929,787 shares during the period. Finally, Millennium Management LLC boosted its position in shares of IAMGOLD by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after acquiring an additional 4,846,254 shares during the period. Institutional investors own 47.08% of the company's stock.

IAMGOLD Stock Performance

Shares of IAG traded up $0.33 during trading hours on Friday, hitting $7.06. The company had a trading volume of 25,148,459 shares, compared to its average volume of 10,543,805. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 4.87 and a beta of 1.20. The business has a fifty day moving average of $6.70 and a 200-day moving average of $6.02. IAMGOLD has a 12 month low of $3.44 and a 12 month high of $8.38. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $457.23 million during the quarter, compared to analysts' expectations of $578.70 million. Equities analysts anticipate that IAMGOLD will post 0.67 EPS for the current fiscal year.

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.