IAMGOLD (NYSE:IAG) Coverage Initiated at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set an "outperform" rating on the mining company's stock.

A number of other brokerages also recently commented on IAG. Raymond James restated a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Scotiabank raised their target price on IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a report on Monday, April 14th. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, StockNews.com lowered IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Four equities research 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. According to MarketBeat, IAMGOLD presently has an average rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Stock Performance

NYSE:IAG traded down $0.10 during trading hours on Wednesday, reaching $7.73. 6,827,170 shares of the company's stock were exchanged, compared to its average volume of 10,047,497. The company has a 50-day moving average of $6.19 and a 200 day moving average of $5.75. IAMGOLD has a 1-year low of $3.44 and a 1-year 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. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 5.33 and a beta of 1.52.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $498.68 million. Research analysts anticipate that IAMGOLD will post 0.67 EPS for the current year.

Institutional Trading of IAMGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after buying an additional 277,000 shares in the last quarter. Cibc World Market Inc. boosted its position in IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after acquiring an additional 1,795,869 shares during the last quarter. Triasima Portfolio Management inc. grew its stake in IAMGOLD by 44.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock worth $1,820,000 after acquiring an additional 108,524 shares during the period. JPMorgan Chase & Co. raised its holdings in IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock valued at $7,904,000 after acquiring an additional 604,259 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of IAMGOLD during the 3rd quarter worth $1,083,000. 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.