IAMGOLD Co. (NYSE:IAG) Given Average Rating of “Hold” by Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.02.

IAG has been the topic of several research analyst reports. Scotiabank increased their price target on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC increased their price target on shares of IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th.

IAMGOLD Stock Down 5.4 %

Shares of IAMGOLD stock opened at $3.86 on Monday. The business has a 50-day moving average of $3.89 and a 200-day moving average of $3.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. The company has a market capitalization of $2.20 billion, a PE ratio of 13.79 and a beta of 1.56. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The company had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, equities analysts forecast that IAMGOLD will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently bought and sold shares of IAG. Euro Pacific Asset Management LLC raised its holdings in shares of IAMGOLD by 48.1% during the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after buying an additional 885,697 shares during the last quarter. Norges Bank bought a new stake in shares of IAMGOLD during the fourth quarter valued at approximately $8,642,000. P Schoenfeld Asset Management LP raised its holdings in shares of IAMGOLD by 11.1% during the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after buying an additional 822,149 shares during the last quarter. Helikon Investments Ltd raised its holdings in shares of IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of IAMGOLD during the first quarter valued at approximately $389,000. 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.