Raymond James Reiterates “$6.00” Price Target for Iamgold (IAG)
Other analysts have also issued reports about the company. TheStreet lowered Iamgold from a b rating to a c- rating in a report on Friday, August 10th. ValuEngine lowered Iamgold from a buy rating to a hold rating in a report on Wednesday, August 8th. BMO Capital Markets reissued a buy rating and set a $7.00 target price on shares of Iamgold in a report on Friday, September 21st. Zacks Investment Research lowered Iamgold from a hold rating to a sell rating in a report on Thursday, October 18th. Finally, Canaccord Genuity reissued a buy rating on shares of Iamgold in a report on Sunday, October 21st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $6.68.
IAG stock traded down $0.14 during trading hours on Wednesday, hitting $3.13. 6,639,229 shares of the stock were exchanged, compared to its average volume of 5,313,735. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.31 and a quick ratio of 3.80. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 9.25 and a beta of -0.19. Iamgold has a 12 month low of $3.08 and a 12 month high of $6.52.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sigma Planning Corp acquired a new stake in shares of Iamgold during the 2nd quarter worth $111,000. LPL Financial LLC boosted its stake in Iamgold by 201.3% in the first quarter. LPL Financial LLC now owns 64,503 shares of the mining company’s stock valued at $335,000 after buying an additional 43,098 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in Iamgold in the second quarter valued at about $407,000. Cumberland Partners Ltd acquired a new stake in Iamgold in the second quarter valued at about $534,000. Finally, Fosun International Ltd acquired a new stake in Iamgold in the third quarter valued at about $366,000. 53.42% of the stock is currently owned by institutional investors.
Iamgold Company Profile
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
Recommended Story: Understanding each part of a balance sheet
Receive News & Ratings for Iamgold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold and related companies with MarketBeat.com's FREE daily email newsletter.