IAMGOLD (NYSE:IAG) Price Target Raised to $3.75 at Scotiabank

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price target lifted by Scotiabank from $3.25 to $3.75 in a report published on Thursday, MarketBeat.com reports. Scotiabank currently has a sector perform rating on the mining company’s stock.

IAG has been the subject of several other reports. BMO Capital Markets lifted their target price on IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a research report on Friday, April 5th. CIBC lifted their target price on IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a research report on Wednesday, February 7th. StockNews.com downgraded IAMGOLD from a hold rating to a sell rating in a research report on Thursday. Finally, National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $3.55.

IAMGOLD Stock Down 0.5 %

Shares of IAG opened at $3.64 on Thursday. The company has a market cap of $1.81 billion, a PE ratio of 19.16, a P/E/G ratio of 1.26 and a beta of 1.70. The business has a fifty day moving average of $3.07 and a 200 day moving average of $2.64. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $3.92. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million during the quarter. On average, sell-side analysts expect that IAMGOLD will post 0.07 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of IAMGOLD by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after buying an additional 1,368,491 shares during the period. Donald Smith & CO. Inc. grew its stake in IAMGOLD by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after purchasing an additional 4,358,444 shares during the last quarter. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. Vanguard Group Inc. grew its stake in IAMGOLD by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock valued at $44,302,000 after purchasing an additional 135,524 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in IAMGOLD by 0.7% in the first quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock valued at $46,308,000 after purchasing an additional 124,300 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.