IAMGOLD (NYSE:IAG) Given New $4.90 Price Target at CIBC

IAMGOLD (NYSE:IAGFree Report) (TSE:IMG) had its price target increased by CIBC from $4.80 to $4.90 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the mining company’s stock.

Several other research analysts also recently commented on the stock. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Monday, April 8th. BMO Capital Markets reiterated an outperform rating and issued a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. Scotiabank lifted their price target on shares of IAMGOLD from $4.25 to $4.50 and gave the company a sector perform rating in a report on Thursday, June 6th. Finally, StockNews.com upgraded shares of IAMGOLD from a sell rating to a hold rating in a report on Tuesday. One 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’s stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of Hold and a consensus target price of $4.02.

Read Our Latest Stock Analysis on IAG

IAMGOLD Stock Up 2.8 %

Shares of NYSE IAG opened at $4.19 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $4.59. The firm’s fifty day moving average is $3.90 and its 200 day moving average is $3.26. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 14.95 and a beta of 1.56.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last issued its earnings results on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The company had revenue of $338.90 million for the quarter. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, equities research analysts expect that IAMGOLD will post 0.28 earnings per share for the current year.

Institutional Trading of IAMGOLD

A number of hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its holdings in shares of IAMGOLD by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after buying an additional 8,485 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the 4th quarter valued at $26,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter valued at $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of IAMGOLD during the 4th quarter valued at $33,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of IAMGOLD during the 4th quarter valued at $34,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

(Get Free Report)

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.

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