Iamgold (IAG) PT Set at $6.00 by Credit Suisse Group

Iamgold (NYSE:IAG) (TSE:IMG) has been given a $6.00 target price by stock analysts at Credit Suisse Group in a report issued on Thursday. The firm presently has a “hold” rating on the mining company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 83.49% from the stock’s current price.

Several other research firms have also commented on IAG. ValuEngine lowered Iamgold from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. TheStreet lowered Iamgold from a “b” rating to a “c-” rating in a research report on Friday, August 10th. Canaccord Genuity reissued a “buy” rating on shares of Iamgold in a report on Sunday, October 21st. Zacks Investment Research lowered Iamgold from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Royal Bank of Canada set a $6.00 target price on Iamgold and gave the company a “hold” rating in a report on Thursday, October 11th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $6.75.

IAG traded down $0.06 during trading on Thursday, hitting $3.27. 187,901 shares of the stock were exchanged, compared to its average volume of 5,139,283. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 10.08 and a beta of -0.19. Iamgold has a 1-year low of $3.32 and a 1-year high of $6.52. The company has a quick ratio of 3.80, a current ratio of 4.72 and a debt-to-equity ratio of 0.14.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 6th. The mining company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $244.80 million for the quarter, compared to analyst estimates of $266.17 million. Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities analysts expect that Iamgold will post 0.12 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Sigma Planning Corp acquired a new position in shares of Iamgold in the second quarter valued at approximately $111,000. LPL Financial LLC boosted its stake in shares of Iamgold by 201.3% in the first quarter. LPL Financial LLC now owns 64,503 shares of the mining company’s stock valued at $335,000 after buying an additional 43,098 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Iamgold in the second quarter valued at approximately $407,000. Cumberland Partners Ltd purchased a new stake in shares of Iamgold in the second quarter valued at approximately $534,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Iamgold in the second quarter valued at approximately $647,000. 53.42% of the stock is currently owned by institutional investors and hedge funds.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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