IAMGOLD (NYSE:IAG) Price Target Raised to $8.40 at CIBC

IAMGOLD (NYSE:IAG - Free Report) TSE: IMG had its price target lifted by CIBC from $7.60 to $8.40 in a report released on Thursday, MarketBeat Ratings reports. CIBC currently has an outperformer rating on the mining company's stock.

A number of other equities analysts have also recently issued reports on the stock. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Raymond James raised IAMGOLD from a "strong sell" rating to a "hold" rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.90.

IAMGOLD Trading Down 1.2 %

IAMGOLD stock traded down $0.07 during mid-day trading on Thursday, hitting $5.97. 3,833,451 shares of the stock were exchanged, compared to its average volume of 9,532,874. IAMGOLD has a 12 month low of $3.01 and a 12 month 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 firm's fifty day simple moving average is $5.93 and its two-hundred day simple moving average is $5.55. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 4.12 and a beta of 1.63.

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IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The business had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Analysts forecast that IAMGOLD will post 0.67 EPS for the current year.

Institutional Trading of IAMGOLD

Several institutional investors have recently made changes to their positions in IAG. Franklin Resources Inc. boosted its holdings in IAMGOLD by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after purchasing an additional 1,836 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of IAMGOLD by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock worth $3,615,000 after buying an additional 2,848 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IAMGOLD by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock valued at $181,000 after acquiring an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in IAMGOLD by 4.6% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock worth $473,000 after acquiring an additional 4,013 shares during the period. Finally, Freedom Investment Management Inc. boosted its position in IAMGOLD by 4.2% in the fourth quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company's stock worth $561,000 after purchasing an additional 4,399 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

About IAMGOLD

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.