IAMGOLD (NYSE:IAG) (TSE:IMG) has been given a $6.00 target price by stock analysts at Royal Bank of Canada in a research report issued on Thursday. The brokerage presently has a “hold” rating on the mining company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 52.67% from the company’s previous close.
A number of other research firms have also recently issued reports on IAG. ValuEngine cut IAMGOLD from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. BMO Capital Markets restated a “buy” rating and set a $7.00 price objective on shares of IAMGOLD in a research report on Friday, September 21st. TheStreet cut IAMGOLD from a “b” rating to a “c-” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research cut IAMGOLD from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.13.
IAG opened at $3.93 on Thursday. The company has a market cap of $1.72 billion, a PE ratio of 65.50, a PEG ratio of 7.48 and a beta of -0.30. The company has a current ratio of 4.72, a quick ratio of 3.80 and a debt-to-equity ratio of 0.14. IAMGOLD has a 1 year low of $3.57 and a 1 year high of $6.52.
IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, August 8th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $277.40 million for the quarter, compared to analysts’ expectations of $265.13 million. IAMGOLD had a return on equity of 2.56% and a net margin of 2.54%. IAMGOLD’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, research analysts predict that IAMGOLD will post 0.16 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the business. Hexavest Inc. grew its position in IAMGOLD by 1.5% in the third quarter. Hexavest Inc. now owns 3,798,045 shares of the mining company’s stock valued at $13,972,000 after acquiring an additional 56,764 shares during the period. United Services Automobile Association grew its position in IAMGOLD by 6.4% in the second quarter. United Services Automobile Association now owns 2,256,500 shares of the mining company’s stock valued at $13,110,000 after acquiring an additional 136,300 shares during the period. Bank of New York Mellon Corp grew its position in IAMGOLD by 69.7% in the second quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock valued at $46,243,000 after acquiring an additional 3,269,020 shares during the period. Schroder Investment Management Group grew its position in IAMGOLD by 205.1% in the second quarter. Schroder Investment Management Group now owns 623,110 shares of the mining company’s stock valued at $4,533,000 after acquiring an additional 418,900 shares during the period. Finally, Capital Fund Management S.A. grew its position in IAMGOLD by 41.7% in the second quarter. Capital Fund Management S.A. now owns 3,074,655 shares of the mining company’s stock valued at $17,864,000 after acquiring an additional 904,111 shares during the period. Hedge funds and other institutional investors own 52.98% of the company’s stock.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
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