IAMGOLD (NYSE:IAG) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of IAMGOLD (NYSE:IAG) (TSE:IMG) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating on the mining company’s stock.

Several other research firms also recently commented on IAG. Scotiabank raised their price objective on IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a report on Monday, April 14th. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James reaffirmed a “market perform” rating and issued a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. Finally, CIBC reissued an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $7.82 on Wednesday. IAMGOLD has a 52 week low of $3.44 and a 52 week high of $8.38. The company has a market capitalization of $4.47 billion, a PE ratio of 5.39 and a beta of 1.52. The stock’s fifty day moving average is $6.19 and its two-hundred day moving average is $5.74. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, analysts expect that IAMGOLD will post 0.67 earnings per share for the current year.

Institutional Trading of IAMGOLD

A number of institutional investors have recently made changes to their positions in the business. Tobam acquired a new position in IAMGOLD during the 4th quarter valued at about $25,000. Blue Trust Inc. grew its stake in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC acquired a new position in shares of IAMGOLD during the fourth quarter valued at about $56,000. Alpha Omega Wealth Management LLC purchased a new position in shares of IAMGOLD in the 1st quarter valued at approximately $75,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD in the 4th quarter valued at approximately $68,000. 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.