IAMGOLD (NYSE:IAG) Given New $3.25 Price Target at Raymond James

IAMGOLD (NYSE:IAG) (TSE:IMG) had its target price cut by Raymond James from $3.50 to $3.25 in a research note published on Wednesday morning, Analyst Ratings Network reports. They currently have a market perform rating on the mining company’s stock.

IAG has been the subject of a number of other research reports. Credit Suisse Group cut their price target on shares of IAMGOLD from $3.50 to $3.00 and set a neutral rating for the company in a report on Friday, July 23rd. Royal Bank of Canada reaffirmed a sector perform rating and set a $3.00 price target on shares of IAMGOLD in a report on Thursday, August 5th. Scotiabank dropped their price objective on shares of IAMGOLD from $4.00 to $3.00 and set a sector perform rating for the company in a research note on Friday, July 23rd. Zacks Investment Research downgraded shares of IAMGOLD from a hold rating to a sell rating in a research note on Wednesday, October 6th. Finally, Canaccord Genuity dropped their price objective on shares of IAMGOLD from C$4.50 to C$3.75 and set a buy rating for the company in a research note on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $3.53.

NYSE IAG opened at $2.67 on Wednesday. The firm has a 50-day moving average price of $2.34 and a two-hundred day moving average price of $2.90. IAMGOLD has a 12-month low of $2.16 and a 12-month high of $4.20. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.27 billion, a P/E ratio of 19.07, a P/E/G ratio of 360.00 and a beta of 0.94.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 4th. The mining company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). IAMGOLD had a return on equity of 2.90% and a net margin of 5.34%. The firm had revenue of $265.60 million for the quarter, compared to the consensus estimate of $276.38 million. During the same period last year, the company posted $0.04 EPS. The business’s revenue was down 6.7% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund acquired a new position in IAMGOLD in the 2nd quarter valued at approximately $26,000. BlackRock Inc. acquired a new position in IAMGOLD in the 1st quarter valued at approximately $30,000. tru Independence LLC increased its position in IAMGOLD by 185.7% in the 1st quarter. tru Independence LLC now owns 10,000 shares of the mining company’s stock valued at $30,000 after acquiring an additional 6,500 shares during the period. Smith Salley & Associates acquired a new position in IAMGOLD in the 2nd quarter valued at approximately $32,000. Finally, Koshinski Asset Management Inc. acquired a new position in IAMGOLD in the 3rd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 45.26% of the company’s stock.

About IAMGOLD

IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

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Analyst Recommendations for IAMGOLD (NYSE:IAG)

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