National Bank Financial Reaffirms “Outperform” Rating for IAMGOLD (NYSE:IAG)


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National Bank Financial reissued their outperform rating on shares of IAMGOLD (NYSE:IAG) (TSE:IMG) in a research note issued to investors on Monday, The Fly reports.

Other analysts have also issued reports about the company. Credit Suisse Group reaffirmed a neutral rating and set a $4.75 target price on shares of IAMGOLD in a research report on Thursday, November 5th. CSFB set a $4.75 target price on IAMGOLD and gave the stock a neutral rating in a research report on Thursday, November 5th. Raymond James lowered their price objective on IAMGOLD from $6.50 to $6.00 and set a market perform rating for the company in a report on Monday, November 16th. BidaskClub raised IAMGOLD from a strong sell rating to a sell rating in a report on Friday, December 18th. Finally, ValuEngine lowered IAMGOLD from a sell rating to a strong sell rating in a report on Monday, December 21st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $5.88.

Shares of IAG opened at $3.40 on Monday. The stock’s 50-day moving average is $3.57 and its two-hundred day moving average is $3.97. The stock has a market cap of $1.62 billion, a PE ratio of -4.25, a P/E/G ratio of 4.34 and a beta of 0.82. IAMGOLD has a 12 month low of $1.44 and a 12 month high of $5.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 3.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, November 4th. The mining company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. IAMGOLD had a positive return on equity of 2.79% and a negative net margin of 31.53%. The company had revenue of $335.10 million for the quarter, compared to analysts’ expectations of $344.16 million. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts anticipate that IAMGOLD will post 0.27 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc boosted its position in shares of IAMGOLD by 2.0% during the third quarter. CIBC Asset Management Inc now owns 325,466 shares of the mining company’s stock worth $1,248,000 after buying an additional 6,272 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of IAMGOLD during the third quarter worth approximately $47,000. Bank of New York Mellon Corp boosted its position in shares of IAMGOLD by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 3,148,690 shares of the mining company’s stock worth $12,437,000 after buying an additional 173,483 shares during the period. Man Group plc acquired a new position in shares of IAMGOLD during the second quarter worth approximately $135,000. Finally, Stifel Financial Corp acquired a new position in shares of IAMGOLD during the second quarter worth approximately $852,000. Institutional investors own 49.07% 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. Its exploration and development projects include the Boto gold project in Senegal; the Diakha-Siribaya gold project in Mali; the Pitangui project in Brazil; the Côté gold project in Ontario; Eastern Borosi in Nicaragua; and the Karita gold project in Guinea, as well as holds interest in the Loma Larga, a gold, silver, and copper project in southern Ecuador.

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