IAMGOLD Co. (NYSE:IAG) Receives $6.57 Average Price Target from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.57.

A number of brokerages have recently commented on IAG. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP acquired a new position in shares of IAMGOLD during the third quarter valued at approximately $503,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after acquiring an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Finally, U S Global Investors Inc. raised its holdings in shares of IAMGOLD by 241.6% during the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after acquiring an additional 604,114 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Up 0.7 %

Shares of IAG opened at $6.38 on Friday. IAMGOLD has a 52 week low of $2.48 and a 52 week high of $6.69. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 4.98 and a beta of 1.56. The stock’s 50-day moving average price is $5.72 and its 200-day moving average price is $5.36.

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.