IAMGOLD Co. (NYSE:IAG) Receives Average Rating of “Hold” from Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has earned an average rating of “Hold” from the four analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.73.

IAG has been the subject of several research analyst reports. Scotiabank boosted their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. CIBC boosted their price objective on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a research report on Thursday, June 6th.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its holdings in IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after acquiring an additional 309,836 shares in the last quarter. Norges Bank acquired a new position in IAMGOLD in the 4th quarter valued at approximately $8,642,000. P Schoenfeld Asset Management LP raised its holdings in IAMGOLD by 11.1% in the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after acquiring an additional 822,149 shares in the last quarter. Helikon Investments Ltd raised its holdings in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after acquiring an additional 23,485,183 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of IAMGOLD in the 1st quarter worth approximately $389,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAG opened at $5.48 on Tuesday. The company has a market cap of $3.12 billion, a PE ratio of 19.57 and a beta of 1.58. The stock has a 50-day moving average of $4.64 and a 200-day moving average of $4.02. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $5.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter last year, the company posted ($0.01) EPS. As a group, equities research analysts forecast that IAMGOLD will post 0.41 earnings per share for the current fiscal 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.