CIBC Raises IAMGOLD (NYSE:IAG) Price Target to $6.40

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price target raised by CIBC from $5.40 to $6.40 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the mining company’s stock.

IAG has been the topic of a number of other reports. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday. Scotiabank boosted their target price on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a research report on Tuesday. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.07.

IAMGOLD Trading Up 1.1 %

Shares of IAMGOLD stock opened at $6.00 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 21.41 and a beta of 1.59. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $6.37. The business has a 50-day moving average price of $5.19 and a 200-day moving average price of $4.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million for the quarter. During the same period in the previous year, the firm earned ($0.01) EPS. Equities research analysts anticipate that IAMGOLD will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in IAMGOLD by 1,034.3% during the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after acquiring an additional 309,836 shares in the last quarter. Helikon Investments Ltd increased its holdings in 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 period. Headlands Technologies LLC bought a new position in IAMGOLD in the first quarter worth approximately $389,000. U S Global Investors Inc. lifted its holdings in IAMGOLD by 241.6% during the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock worth $4,467,000 after buying an additional 604,114 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in IAMGOLD by 326.7% during the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock valued at $2,029,000 after acquiring an additional 466,620 shares in the last quarter. 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.