IAMGOLD (NYSE:IAG) PT Set at $7.50 by CIBC

IAMGOLD (NYSE:IAG) (TSE:IMG) received a $7.50 price target from investment analysts at CIBC in a report released on Wednesday, January 17th. The brokerage currently has an “outperform” rating on the mining company’s stock. CIBC’s price target indicates a potential upside of 35.38% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank reissued a “hold” rating on shares of IAMGOLD in a research note on Tuesday, November 14th. BMO Capital Markets set a $7.00 price target on shares of IAMGOLD and gave the company a “buy” rating in a research note on Tuesday, December 19th. Desjardins restated a “buy” rating on shares of IAMGOLD in a report on Monday, December 11th. Canaccord Genuity lowered IAMGOLD from a “buy” rating to a “hold” rating and set a $8.07 price objective on the stock. in a report on Friday, September 29th. Finally, Royal Bank of Canada set a $8.00 price target on IAMGOLD and gave the stock a “hold” rating in a report on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.07.

Shares of IAMGOLD (NYSE IAG) traded up $0.28 during trading hours on Wednesday, reaching $5.54. 4,916,933 shares of the company traded hands, compared to its average volume of 4,890,000. The firm has a market cap of $2,590.00, a P/E ratio of 5.08, a PEG ratio of 38.12 and a beta of -0.31. IAMGOLD has a one year low of $3.36 and a one year high of $7.25. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14.

Several institutional investors have recently made changes to their positions in IAG. Swiss National Bank grew its position in shares of IAMGOLD by 2.5% during the second quarter. Swiss National Bank now owns 770,100 shares of the mining company’s stock worth $3,973,000 after buying an additional 18,800 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in IAMGOLD by 560.2% during the second quarter. JPMorgan Chase & Co. now owns 2,688,430 shares of the mining company’s stock worth $13,873,000 after purchasing an additional 2,281,226 shares during the last quarter. Alliancebernstein L.P. lifted its stake in IAMGOLD by 171.9% during the second quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock worth $170,000 after purchasing an additional 20,800 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in IAMGOLD during the second quarter worth approximately $600,000. Finally, UBS Asset Management Americas Inc. lifted its stake in IAMGOLD by 2.5% during the second quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock worth $3,131,000 after purchasing an additional 14,600 shares during the last quarter. 55.30% of the stock is owned by institutional investors and hedge funds.

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IAMGOLD Company Profile

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Analyst Recommendations for IAMGOLD (NYSE:IAG)

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