IAMGOLD Co. (NYSE:IAG) Receives $3.56 Consensus Target Price from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.56.

A number of equities analysts have recently weighed in on IAG shares. Canaccord Genuity lowered their target price on IAMGOLD from C$4.50 to C$3.75 and set a “buy” rating on the stock in a research report on Friday, July 23rd. Stifel Nicolaus lowered their target price on IAMGOLD from C$4.75 to C$4.50 and set a “hold” rating on the stock in a research report on Friday, July 23rd. Scotiabank lowered their target price on IAMGOLD from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Friday, July 23rd. National Bank Financial lowered their target price on IAMGOLD from C$4.00 to C$3.75 and set an “outperform” rating on the stock in a research report on Friday, September 10th. Finally, TheStreet lowered IAMGOLD from a “c-” rating to a “d+” rating in a research report on Monday, August 16th.

IAG traded down $0.10 during trading on Monday, hitting $2.23. The company’s stock had a trading volume of 9,902,367 shares, compared to its average volume of 4,977,184. IAMGOLD has a twelve month low of $2.16 and a twelve month high of $4.30. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $2.49 and its 200-day moving average price is $3.00. The firm has a market capitalization of $1.06 billion, a P/E ratio of 15.93, a PEG ratio of 360.00 and a beta of 0.94.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 4th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). IAMGOLD had a net margin of 5.34% and a return on equity of 2.90%. The business had revenue of $265.60 million during the quarter, compared to analyst estimates of $276.38 million. During the same period last year, the firm posted $0.04 earnings per share. IAMGOLD’s quarterly revenue was down 6.7% compared to the same quarter last year.

Several large investors have recently modified their holdings of the stock. Atlas Private Wealth Advisors boosted its holdings in shares of IAMGOLD by 6.5% in the 2nd quarter. Atlas Private Wealth Advisors now owns 98,455 shares of the mining company’s stock worth $290,000 after buying an additional 5,990 shares during the last quarter. tru Independence LLC lifted its holdings in IAMGOLD by 185.7% during the first quarter. tru Independence LLC now owns 10,000 shares of the mining company’s stock valued at $30,000 after purchasing an additional 6,500 shares during the last quarter. CLARET ASSET MANAGEMENT Corp lifted its holdings in IAMGOLD by 13.2% during the second quarter. CLARET ASSET MANAGEMENT Corp now owns 61,700 shares of the mining company’s stock valued at $182,000 after purchasing an additional 7,200 shares during the last quarter. Profund Advisors LLC lifted its holdings in IAMGOLD by 18.5% during the second quarter. Profund Advisors LLC now owns 46,341 shares of the mining company’s stock valued at $137,000 after purchasing an additional 7,220 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in IAMGOLD by 2.4% during the first quarter. CIBC Asset Management Inc now owns 343,677 shares of the mining company’s stock valued at $1,022,000 after purchasing an additional 7,896 shares during the last quarter. 45.26% of the stock is currently owned by institutional investors.

About IAMGOLD

IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

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Analyst Recommendations for IAMGOLD (NYSE:IAG)

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