National Bank Financial Raises Target Price of IAMGOLD (NYSE:IAG) to C$5.00

IAMGOLD (NYSE:IAG – Get a Rating) (TSE:IMG) saw its price target raised by National Bank Financial research analysts from C$4.50 to C$5.00 in a research note released Friday to investors, reports The Fly.

A number of other brokerages also commented on IAG. raised its price target on IAMGOLD from C$3.75 to C$4.00 and gave the stock a “holding” rating in a Tuesday, November 16 research report. BMO Capital Markets downgraded IAMGOLD from a ‘market performance’ rating to an ‘outperform’ rating and raised its target price for the stock from $2.75 to $3.25 in a research report Tuesday, February 15. Raymond James set a target price of $3.00 on IAMGOLD and gave the stock a “market yield” rating in a research report on Friday, February 25. Zacks Investment Research upgraded IAMGOLD from a “sell” rating to a “hold” rating in a Thursday, February 24 research report. Finally, TD Securities reduced its price target on IAMGOLD from CA$6.00 to CA$5.00 in a Friday, January 14 research report. Seven investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.69.

Shares of NYSE IAG traded down $0.06 at midday Friday, hitting $3.41. 468,609 shares of the company were traded, against an average volume of 7,309,310. The company has a market capitalization of $1.63 billion, a PE ratio of -6.35 and a beta of 1.05. The stock’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $2.77. IAMGOLD has a 12 month minimum of $2.16 and a 12 month maximum of $3.85. The company has a debt ratio of 0.20, a quick ratio of 1.12 and a current ratio of 1.63.

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IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last released its quarterly results on Wednesday, February 23. The mining company reported earnings per share (EPS) of $0.09 for the quarter, beating the Zacks consensus estimate of $0.05 ($0.05) by $0.14. The company posted revenue of $294.60 million in the quarter, compared to $296.07 million expected by analysts. IAMGOLD posted a positive return on equity of 1.07% and a negative net margin of 22.09%. In the same period a year earlier, the company posted earnings per share of $0.04. On average, equity research analysts expect IAMGOLD to post -0.05 EPS for the current year.

A number of large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its position in IAMGOLD by 2.4% in the third quarter. Donald Smith & CO. Inc. now owns 41,333,683 shares of the mining company worth $93,414,000 after acquiring an additional 976,149 shares last quarter. Polunin Capital Partners Ltd acquired a new position in IAMGOLD shares in Q4 worth $31,851,000. Invesco Ltd. increased its position in IAMGOLD shares by 4.6% in the 4th quarter. Invesco Ltd. now owns 6,421,046 shares of the mining company valued at $20,098,000 after acquiring an additional 284,510 shares during the period. Norges Bank acquired a new stake in IAMGOLD during the 4th quarter with a value of approximately $15,251,000. Finally, Russell Investments Group Ltd. increased its stake in IAMGOLD shares by 2.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,062,964 shares of the mining company worth $6,453,000 after acquiring 40,760 additional shares in the last quarter. 46.66% of the shares are currently held by institutional investors and hedge funds.

IAMGOLD Company Profile (Get a rating)

IAMGOLD Corp. is engaged in the exploration, development and production of gold properties and mineral resources. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

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