IAMGOLD (NYSE:IAG) Rating Reiterated by Royal Bank of Canada

IAMGOLD (NYSE:IAG) (TSE:IMG)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report released 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 indicates a potential upside of 0.93% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday. Scotiabank upped their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. CIBC upped 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. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.07.

IAMGOLD Price Performance

Shares of IAG stock opened at $5.95 on Tuesday. The firm has a fifty day simple moving average of $5.17 and a 200-day simple moving average of $4.35. The company has a market capitalization of $3.38 billion, a PE ratio of 21.23 and a beta of 1.59. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $6.37. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share 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 period in the previous year, the company earned ($0.01) earnings per share. Equities research analysts anticipate that IAMGOLD will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the business. Helikon Investments Ltd grew its stake in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.2% during the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after acquiring an additional 3,935,250 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of IAMGOLD by 326.7% in the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the period. Headlands Technologies LLC bought a new stake in IAMGOLD in the 1st quarter valued at about $389,000. Finally, Vanguard Group Inc. boosted its stake in IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.