IAMGOLD Co. (NYSE:IAG) Given Average Recommendation of “Hold” by Brokerages

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been assigned an average rating of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.01.

A number of equities research analysts have recently weighed in on IAG shares. CIBC lowered their price objective on shares of IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a report on Friday, June 7th. BMO Capital Markets restated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. Scotiabank boosted their price objective on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a report on Thursday, June 6th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in IAMGOLD in the first quarter worth $50,000. Virtu Financial LLC lifted its position in shares of IAMGOLD by 1,034.3% during the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares during the last quarter. Linscomb Wealth Inc. bought a new stake in shares of IAMGOLD during the first quarter worth $67,000. Donald Smith & CO. Inc. lifted its position in shares of IAMGOLD by 0.8% during the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock worth $120,137,000 after purchasing an additional 298,959 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after purchasing an additional 168,302 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

IAG opened at $4.07 on Thursday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.52 and a beta of 1.56. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $3.88 and a 200-day moving average price of $3.24. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, beating 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 during the quarter. During the same period in the prior year, the firm posted $0.05 EPS. Equities analysts expect that IAMGOLD will post 0.28 EPS for the current 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.