Iamgold (IAG) Given New $5.50 Price Target at Raymond James
Iamgold (NYSE:IAG) (TSE:IMG) had its price target cut by equities research analysts at Raymond James from $6.00 to $5.50 in a research note issued on Thursday. The firm presently has a “market perform” rating on the mining company’s stock. Raymond James’ price target suggests a potential upside of 75.72% from the stock’s previous close.
A number of other analysts have also commented on the company. Credit Suisse Group set a $6.00 price target on Iamgold and gave the company a “hold” rating in a report on Thursday. TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday. Zacks Investment Research upgraded Iamgold from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. TheStreet lowered Iamgold from a “c-” rating to a “d+” rating in a report on Wednesday, October 31st. Finally, Canaccord Genuity restated a “buy” rating on shares of Iamgold in a report on Sunday, October 21st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Iamgold currently has an average rating of “Hold” and an average price target of $6.68.
Shares of Iamgold stock opened at $3.13 on Thursday. The stock has a market capitalization of $1.55 billion, a PE ratio of 52.17, a PEG ratio of 9.25 and a beta of -0.19. Iamgold has a one year low of $3.08 and a one year high of $6.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.80 and a current ratio of 4.31.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its holdings in Iamgold by 424.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,509,100 shares of the mining company’s stock worth $5,546,000 after acquiring an additional 1,221,100 shares in the last quarter. CIBC World Markets Inc. raised its holdings in Iamgold by 6.4% during the third quarter. CIBC World Markets Inc. now owns 419,806 shares of the mining company’s stock worth $1,545,000 after acquiring an additional 25,093 shares in the last quarter. FMR LLC raised its holdings in Iamgold by 15.2% during the third quarter. FMR LLC now owns 3,493,912 shares of the mining company’s stock worth $12,849,000 after acquiring an additional 461,462 shares in the last quarter. Fosun International Ltd bought a new stake in Iamgold during the third quarter worth about $366,000. Finally, Bank of New York Mellon Corp raised its holdings in Iamgold by 14.3% during the third quarter. Bank of New York Mellon Corp now owns 9,098,395 shares of the mining company’s stock worth $33,482,000 after acquiring an additional 1,139,108 shares in the last quarter. Institutional investors and hedge funds own 53.42% of the company’s stock.
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.
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