Iamgold (NYSE:IAG) Reaches New 1-Year High at $4.31

Iamgold Corp (NYSE:IAG) (TSE:IMG)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.31 and last traded at $4.17, with a volume of 1593829 shares changing hands. The stock had previously closed at $4.00.

Several equities research analysts have issued reports on IAG shares. CSFB set a $3.25 price target on shares of Iamgold and gave the company a “hold” rating in a report on Tuesday, May 5th. BMO Capital Markets lowered their target price on shares of Iamgold from $4.00 to $3.50 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. Stifel Nicolaus started coverage on shares of Iamgold in a report on Friday, April 17th. They issued a “hold” rating and a $5.75 target price on the stock. Raymond James set a $4.00 target price on shares of Iamgold and gave the stock a “market perform” rating in a report on Thursday, June 18th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $4.75 target price on shares of Iamgold in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Iamgold presently has an average rating of “Hold” and a consensus price target of $4.00.

The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 4.08. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.99, a P/E/G ratio of 8.85 and a beta of 0.90. The business’s 50-day simple moving average is $3.65 and its 200-day simple moving average is $3.22.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Monday, May 4th. The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $274.50 million during the quarter, compared to analyst estimates of $294.56 million. Iamgold had a negative net margin of 37.26% and a negative return on equity of 0.94%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that Iamgold Corp will post 0.16 earnings per share for the current year.

Several large investors have recently made changes to their positions in IAG. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Iamgold during the 2nd quarter worth approximately $57,000. 1832 Asset Management L.P. increased its stake in Iamgold by 37,915.8% during the 1st quarter. 1832 Asset Management L.P. now owns 361,150 shares of the mining company’s stock worth $814,000 after purchasing an additional 360,200 shares in the last quarter. HighTower Advisors LLC bought a new stake in Iamgold during the 1st quarter worth approximately $25,000. Advisor Group Holdings Inc. bought a new stake in Iamgold during the 1st quarter worth approximately $181,000. Finally, Invesco Ltd. increased its stake in Iamgold by 1,319.6% during the 1st quarter. Invesco Ltd. now owns 2,011,298 shares of the mining company’s stock worth $4,586,000 after purchasing an additional 1,869,618 shares in the last quarter. Institutional investors and hedge funds own 54.74% of the company’s stock.

Iamgold Company Profile (NYSE:IAG)

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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