Analysts Set IAMGOLD Co. (NYSE:IAG) Price Target at $7.74

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG have earned a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.74.

Several research firms recently issued reports on IAG. BMO Capital Markets began coverage on IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC raised their target price on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research note on Thursday, May 8th. Wall Street Zen cut IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Raymond James reissued a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th. Finally, National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its holdings in shares of IAMGOLD by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock valued at $161,167,000 after purchasing an additional 216,751 shares during the last quarter. RCF Management L.L.C. purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $128,174,000. Vanguard Group Inc. lifted its holdings in shares of IAMGOLD by 1.7% during the first quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company's stock valued at $134,764,000 after purchasing an additional 361,608 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of IAMGOLD by 19.0% during 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 purchasing an additional 1,929,787 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of IAMGOLD by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Trading Down 0.8%

Shares of NYSE:IAG traded down $0.06 on Friday, reaching $6.79. 15,810,463 shares of the company traded hands, compared to its average volume of 10,597,851. 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 business's 50-day simple moving average is $6.75 and its 200 day simple moving average is $6.04. The stock has a market capitalization of $3.90 billion, a P/E ratio of 4.68 and a beta of 1.20. IAMGOLD has a 52 week low of $3.44 and a 52 week high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $457.23 million for the quarter, compared to analysts' expectations of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, equities analysts anticipate 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.