Iamgold (IAG) Price Target Cut to $3.25

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Iamgold (NYSE:IAG) (TSE:IMG) had its target price cut by Royal Bank of Canada from $5.00 to $3.25 in a research report released on Tuesday morning, BayStreet.CA reports. They currently have a sector perform rating on the mining company’s stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reissued a buy rating on shares of Iamgold in a research report on Friday, February 15th. Canaccord Genuity reissued a buy rating on shares of Iamgold in a research report on Friday, February 15th. Desjardins raised shares of Iamgold from a hold rating to a buy rating in a research report on Monday, January 28th. Zacks Investment Research downgraded shares of Iamgold from a buy rating to a hold rating in a research report on Tuesday, January 22nd. Finally, ValuEngine upgraded shares of Iamgold from a sell rating to a hold rating in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $4.18.

Shares of IAG stock opened at $2.48 on Tuesday. Iamgold has a 1 year low of $2.33 and a 1 year high of $6.33. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.14 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 20.40 and a beta of -0.41.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, February 20th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Iamgold had a negative net margin of 10.67% and a negative return on equity of 0.43%. The business had revenue of $274.30 million for the quarter, compared to the consensus estimate of $273.84 million. During the same period in the previous year, the firm earned ($0.03) EPS. The company’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Iamgold will post 0.04 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smithbridge Asset Management Inc. DE purchased a new position in shares of Iamgold during the 1st quarter valued at $35,000. K.J. Harrison & Partners Inc purchased a new position in shares of Iamgold during the 1st quarter valued at $35,000. Moors & Cabot Inc. purchased a new position in shares of Iamgold during the 1st quarter valued at $34,000. Maven Securities LTD purchased a new position in shares of Iamgold during the 4th quarter valued at $37,000. Finally, Sigma Planning Corp purchased a new position in shares of Iamgold during the 4th quarter valued at $47,000. Institutional investors own 54.15% of the company’s stock.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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