IAMGOLD (IAG) Given a $7.50 Price Target at CIBC
IAMGOLD (NYSE:IAG) (TSE:IMG) has been assigned a $7.50 price objective by equities researchers at CIBC in a report issued on Wednesday. The firm currently has an “outperform” rating on the mining company’s stock. CIBC’s target price would indicate a potential upside of 22.75% from the company’s current price.
Several other equities research analysts also recently commented on IAG. Canaccord Genuity upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective for the company in a research note on Wednesday, January 10th. Royal Bank of Canada set a $8.00 price objective on shares of IAMGOLD and gave the stock a “hold” rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $7.00 price objective on shares of IAMGOLD and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, TheStreet downgraded shares of IAMGOLD from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $7.07.
Shares of IAMGOLD (NYSE:IAG) traded up $0.03 on Wednesday, reaching $6.11. 4,771,500 shares of the company’s stock traded hands, compared to its average volume of 5,021,520. The firm has a market capitalization of $2,950.00, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 23.03 and a beta of -0.57. IAMGOLD has a 52 week low of $3.36 and a 52 week 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.
IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, November 7th. The mining company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. IAMGOLD had a net margin of 48.66% and a return on equity of 1.81%. The business had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. research analysts anticipate that IAMGOLD will post 0.09 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC lifted its position in IAMGOLD by 204.5% during the third quarter. Virtu Financial LLC now owns 162,480 shares of the mining company’s stock valued at $299,000 after purchasing an additional 109,116 shares during the period. Cubist Systematic Strategies LLC lifted its position in IAMGOLD by 1,083.0% during the third quarter. Cubist Systematic Strategies LLC now owns 124,726 shares of the mining company’s stock valued at $762,000 after purchasing an additional 114,183 shares during the period. U S Global Investors Inc. lifted its position in IAMGOLD by 113.9% during the third quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock valued at $177,000 after purchasing an additional 15,419 shares during the period. Magnetar Financial LLC acquired a new position in IAMGOLD during the third quarter valued at $542,000. Finally, OxFORD Asset Management LLP acquired a new position in IAMGOLD during the third quarter valued at $873,000. Institutional investors own 55.92% of the company’s stock.
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.
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