Brokerages Set IAMGOLD Co. (NYSE:IAG) PT at $6.57

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.57.

Several brokerages recently commented on IAG. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently modified their holdings of IAG. BNP Paribas Financial Markets lifted its stake in IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after buying an additional 1,196,564 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after acquiring an additional 277,000 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of IAMGOLD in the 3rd quarter valued at approximately $503,000. Connor Clark & Lunn Investment Management Ltd. grew its position in IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after purchasing an additional 2,839,556 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

Shares of IAG opened at $6.32 on Friday. IAMGOLD has a one year low of $2.48 and a one year high of $6.69. The stock’s fifty day moving average is $5.76 and its 200-day moving average is $5.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 4.93 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. Equities analysts anticipate that IAMGOLD will post 0.57 EPS for the current year.

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.