IAMGOLD (NYSE:IAG) Price Target Raised to $7.50 at Scotiabank

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG had its target price lifted by equities research analysts at Scotiabank from $6.75 to $7.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the mining company's stock. Scotiabank's price target indicates a potential downside of 4.03% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Raymond James reiterated a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. Finally, CIBC restated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.57.

IAMGOLD Trading Down 3.4 %

IAG stock traded down $0.28 during mid-day trading on Monday, reaching $7.82. 18,092,273 shares of the stock traded hands, compared to its average volume of 10,050,579. IAMGOLD has a one year low of $3.44 and a one year high of $8.38. The stock has a market capitalization of $4.47 billion, a PE ratio of 5.39 and a beta of 1.52. 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 business has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $5.74.

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

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of the business. Tobam acquired a new position in IAMGOLD during the fourth quarter worth about $25,000. Blue Trust Inc. grew its stake in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after purchasing an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of IAMGOLD in the 4th quarter valued at $56,000. Alpha Omega Wealth Management LLC acquired a new position in IAMGOLD during the 1st quarter worth approximately $75,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of IAMGOLD in the fourth quarter valued at about $68,000. Hedge funds and other 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.