Credit Suisse Group set a $6.00 price objective on Iamgold (NYSE:IAG) (TSE:IMG) in a research report sent to investors on Wednesday morning. The brokerage currently has a hold rating on the mining company’s stock.

A number of other research analysts have also recently weighed in on IAG. Zacks Investment Research raised Iamgold from a sell rating to a hold rating in a research report on Saturday, November 3rd. ValuEngine raised Iamgold from a sell rating to a hold rating in a research report on Wednesday, November 21st. Desjardins reaffirmed a hold rating on shares of Iamgold in a research report on Friday, November 16th. Raymond James lowered their price objective on Iamgold from $6.00 to $5.50 and set a market perform rating on the stock in a research report on Thursday, November 8th. Finally, TD Securities reaffirmed a buy rating on shares of Iamgold in a research report on Thursday, November 8th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Iamgold currently has an average rating of Buy and an average price target of $6.68.

Shares of NYSE:IAG opened at $3.38 on Wednesday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 42.25, a PEG ratio of 10.06 and a beta of -0.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.40 and a current ratio of 4.31. Iamgold has a 52-week low of $2.75 and a 52-week high of $6.52.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $266.17 million. Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. As a group, equities analysts anticipate that Iamgold will post 0.11 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Iamgold by 723.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,045,048 shares of the mining company’s stock worth $48,006,000 after purchasing an additional 11,461,355 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Iamgold by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock worth $46,243,000 after purchasing an additional 3,269,020 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Iamgold by 4.7% in the 2nd quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock worth $371,849,000 after purchasing an additional 2,862,271 shares in the last quarter. Deutsche Bank AG lifted its holdings in Iamgold by 66.9% in the 3rd quarter. Deutsche Bank AG now owns 3,392,599 shares of the mining company’s stock worth $12,484,000 after purchasing an additional 1,360,210 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Iamgold by 31.2% in the 3rd quarter. Morgan Stanley now owns 5,639,969 shares of the mining company’s stock worth $20,755,000 after purchasing an additional 1,341,999 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

About Iamgold

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 Qu├ębec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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