IAMGOLD (NYSE:IAG) Price Target Raised to $9.20 at CIBC

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price hoisted by CIBC from $8.40 to $9.20 in a research report report published on Thursday,Benzinga reports. They currently have an outperformer rating on the mining company’s stock.

A number of other analysts have also commented on the stock. Scotiabank upped their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Raymond James reiterated a “market perform” rating and set a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. BMO Capital Markets assumed coverage on IAMGOLD in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Finally, StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.70.

IAMGOLD Price Performance

Shares of NYSE IAG opened at $7.02 on Thursday. The firm has a 50-day moving average of $6.53 and a two-hundred day moving average of $5.95. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.84 and a beta of 1.20. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a twelve month low of $3.44 and a twelve month high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $457.23 million for the quarter, compared to analysts’ expectations of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, analysts expect that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Large investors have recently bought and sold shares of the business. RCF Management L.L.C. acquired a new position in shares of IAMGOLD during the 4th quarter valued at about $128,174,000. Millennium Management LLC lifted its stake in shares of IAMGOLD by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after buying an additional 4,846,254 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of IAMGOLD during the 1st quarter worth $14,678,000. Invesco Ltd. grew its stake in IAMGOLD by 41.6% in the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock valued at $36,842,000 after buying an additional 2,098,215 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in IAMGOLD by 25.9% in the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after acquiring an additional 2,092,803 shares during the period. 47.08% of the stock is currently owned by 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.