IAMGOLD (NYSE:IAG) Coverage Initiated at BMO Capital Markets

BMO Capital Markets began coverage on shares of IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an "outperform" rating on the mining company's stock.

Other analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research report on Monday, April 14th. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, Raymond James reissued a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, IAMGOLD has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Trading Down 3.4 %

IAG stock traded down $0.28 on Wednesday, reaching $7.82. The company's stock had a trading volume of 18,092,273 shares, compared to its average volume of 10,050,579. The business has a fifty day simple moving average of $6.19 and a two-hundred day simple moving average of $5.74. IAMGOLD has a 12-month low of $3.44 and a 12-month high of $8.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market cap of $4.47 billion, a PE ratio of 5.39 and a beta of 1.52.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in IAMGOLD during the third quarter valued at $1,083,000. Geode Capital Management LLC lifted its position in shares of IAMGOLD by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock valued at $1,392,000 after buying an additional 6,874 shares in the last quarter. Virtu Financial LLC bought a new position in shares of IAMGOLD during the 3rd quarter valued at approximately $267,000. JPMorgan Chase & Co. increased its holdings in IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after acquiring an additional 604,259 shares in the last quarter. Finally, DGS Capital Management LLC bought a new stake in IAMGOLD during the 4th quarter worth approximately $110,000. 47.08% of the stock is currently owned by institutional investors.

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.