IAMGOLD (NYSE:IAG) Price Target Raised to $5.00

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price hoisted by CIBC from $4.00 to $5.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the mining company’s stock.

A number of other research firms have also recently commented on IAG. StockNews.com cut shares of IAMGOLD from a hold rating to a sell rating in a report on Thursday, May 16th. Scotiabank raised their price objective on shares of IAMGOLD from $3.75 to $4.25 and gave the company a sector perform rating in a report on Monday, May 13th. National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, BMO Capital Markets raised their price objective on shares of IAMGOLD from $4.50 to $5.00 and gave the company an outperform rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $4.00.

IAMGOLD Stock Down 3.6 %

IAG stock opened at $3.87 on Tuesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.45 and a beta of 1.68. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $4.59. The firm has a 50-day moving average price of $3.67 and a 200-day moving average price of $2.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million during the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same period last year, the company posted $0.05 EPS. As a group, equities research analysts anticipate that IAMGOLD will post 0.25 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in IAMGOLD during the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd acquired a new stake in IAMGOLD during the 4th quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC acquired a new stake in IAMGOLD during the 4th quarter valued at approximately $33,000. Koshinski Asset Management Inc. acquired a new stake in IAMGOLD during the 4th quarter valued at approximately $34,000. Finally, Linscomb Wealth Inc. acquired a new stake in IAMGOLD during the 1st quarter valued at approximately $67,000. Institutional investors and hedge funds 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.