Scotiabank Increases IAMGOLD (NYSE:IAG) Price Target to $3.75

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG had its price target raised by stock analysts at Scotiabank from $3.25 to $3.75 in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a "sector perform" rating on the mining company's stock. Scotiabank's target price points to a potential upside of 3.02% from the stock's current price.

A number of other equities analysts have also commented on IAG. National Bank Financial reissued a "sector perform spec overwgt" rating on shares of IAMGOLD in a research note on Monday, April 8th. BMO Capital Markets boosted their price objective on IAMGOLD from $4.00 to $4.25 and gave the stock an "outperform" rating in a research note on Friday, April 5th. CIBC boosted their price objective on IAMGOLD from $3.00 to $3.10 and gave the stock a "neutral" rating in a research note on Wednesday, February 7th. Finally, StockNews.com lowered IAMGOLD from a "hold" rating to a "sell" rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, IAMGOLD presently has an average rating of "Hold" and a consensus price target of $3.55.

IAMGOLD Stock Performance

Shares of NYSE:IAG traded down $0.02 during trading on Thursday, hitting $3.64. 9,808,537 shares of the stock were exchanged, compared to its average volume of 8,972,077. The company's fifty day simple moving average is $3.05 and its 200-day simple moving average is $2.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.70. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Sell-side analysts expect that IAMGOLD will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. bought a new stake in shares of IAMGOLD during the first quarter worth $31,000. Vident Advisory LLC bought a new stake in IAMGOLD in the fourth quarter valued at about $25,000. Raymond James Financial Services Advisors Inc. bought a new stake in IAMGOLD in the fourth quarter valued at about $26,000. Dynamic Technology Lab Private Ltd bought a new stake in IAMGOLD in the fourth quarter valued at about $29,000. Finally, First Trust Advisors LP bought a new stake in IAMGOLD in the first quarter valued at about $40,000. Institutional investors own 47.08% of the company's stock.

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.