CIBC Raises IAMGOLD (NYSE:IAG) Price Target to $5.40

IAMGOLD (NYSE:IAG) (TSE:IMG) had its price objective hoisted by analysts at CIBC from $4.90 to $5.40 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the mining company’s stock. CIBC’s target price would suggest a potential upside of 13.21% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Scotiabank lifted their price target on IAMGOLD from $4.50 to $4.75 and gave the stock a “sector perform” rating in a research note on Monday. StockNews.com lowered IAMGOLD from a “hold” rating to a “sell” rating in a research report on Friday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.13.

IAMGOLD Stock Up 11.4 %

Shares of IAG traded up $0.49 during trading on Monday, reaching $4.77. The company’s stock had a trading volume of 15,044,803 shares, compared to its average volume of 9,177,682. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.78. 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 company has a market cap of $2.72 billion, a price-to-earnings ratio of 16.96 and a beta of 1.56. The company has a fifty day moving average of $3.87 and a two-hundred day moving average of $3.50.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts predict that IAMGOLD will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of IAMGOLD during the fourth quarter valued at $26,000. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD in the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $33,000. Koshinski Asset Management Inc. acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $34,000. Finally, TIAA Trust National Association bought a new stake in shares of IAMGOLD during the second quarter valued at approximately $38,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.