Royal Bank of Canada Reiterates Sector Perform Rating for IAMGOLD (NYSE:IAG)

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG's stock had its "sector perform" rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued on Tuesday, Benzinga reports. They currently have a $6.00 price target on the mining company's stock. Royal Bank of Canada's price target would suggest a potential downside of 1.80% from the stock's current price.

Several other research firms have also weighed in on IAG. Scotiabank upped their price objective on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a research note on Monday, August 19th. CIBC boosted their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a "neutral" rating in a research note on Monday, August 12th. Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating and upped their price objective for the stock from $7.75 to $10.50 in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, IAMGOLD presently has a consensus rating of "Hold" and an average price target of $6.07.

IAMGOLD Stock Performance

Shares of IAG traded down $0.04 on Tuesday, reaching $6.11. 10,049,531 shares of the stock traded hands, compared to its average volume of 9,177,287. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 21.82 and a beta of 1.59. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The stock's 50-day moving average price is $5.12 and its 200-day moving average price is $4.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The company had revenue of $385.30 million during the quarter. During the same quarter in the prior year, the company posted ($0.01) EPS. Equities analysts forecast that IAMGOLD will post 0.49 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank bought a new stake in shares of IAMGOLD during the 3rd quarter valued at $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock valued at $1,154,000 after purchasing an additional 8,972 shares during the period. Continuum Advisory LLC boosted its position in shares of IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company's stock worth $77,000 after purchasing an additional 9,850 shares during the last quarter. Finally, TIAA Trust National Association acquired a new stake in shares of IAMGOLD during the second quarter worth $38,000. 47.08% of the stock is owned by institutional investors.

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.