Iamgold (NYSE:IAG) (TSE:IMG) has been assigned a $7.00 price objective by stock analysts at BMO Capital Markets in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the mining company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 25.22% from the company’s previous close.
IAG has been the topic of several other reports. Zacks Investment Research cut shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Royal Bank of Canada set a $8.00 price target on shares of Iamgold and gave the company a “hold” rating in a research note on Wednesday, October 18th. Scotiabank increased their price target on shares of Iamgold from $6.25 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, September 15th. TheStreet cut shares of Iamgold from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. Finally, Raymond James Financial increased their price target on shares of Iamgold from $6.00 to $7.25 and gave the company a “market perform” rating in a research note on Thursday, September 7th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Iamgold presently has an average rating of “Hold” and a consensus price target of $6.98.
Iamgold (NYSE IAG) remained flat at $$5.59 during midday trading on Tuesday. The company had a trading volume of 2,744,100 shares, compared to its average volume of 6,822,068. The company has a market cap of $2,598.43, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 19.82 and a beta of -0.57. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. Iamgold has a 1 year low of $3.20 and a 1 year high of $7.25.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its stake in Iamgold by 0.6% in the second quarter. Great West Life Assurance Co. Can now owns 79,161 shares of the mining company’s stock valued at $407,000 after acquiring an additional 460 shares during the last quarter. Advisor Group Inc. boosted its stake in Iamgold by 2.3% in the second quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock valued at $175,000 after acquiring an additional 750 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Iamgold by 19.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,990 shares of the mining company’s stock valued at $221,000 after acquiring an additional 6,894 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Iamgold by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after acquiring an additional 10,773 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Iamgold by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock valued at $3,131,000 after acquiring an additional 14,600 shares during the last quarter. 56.04% of the stock is currently owned by institutional investors and hedge funds.
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About Iamgold
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.
