IAMGOLD (NYSE:IAG) Given New $6.40 Price Target at CIBC

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price objective hoisted by CIBC from $5.40 to $6.40 in a research note released on Tuesday morning, Benzinga reports. CIBC currently has a neutral rating on the mining company’s stock.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their price objective for the company from $7.75 to $10.50 in a research note on Tuesday. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.07.

IAMGOLD Trading Down 0.7 %

NYSE:IAG opened at $6.11 on Tuesday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.82 and a beta of 1.59. IAMGOLD has a 1 year low of $2.11 and a 1 year high of $6.37. The stock has a fifty day moving average price of $5.15 and a two-hundred day moving average price of $4.34. 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 announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million during the quarter. During the same quarter last year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that IAMGOLD will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank purchased a new position in shares of IAMGOLD during the 3rd quarter worth $30,000. TIAA Trust National Association acquired a new stake in shares of IAMGOLD during the second quarter worth $38,000. International Assets Investment Management LLC purchased a new stake in shares of IAMGOLD in the third quarter valued at $700,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD in the second quarter valued at $52,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.