Posted by Defense World Staff on Aug 14th, 2024
IAMGOLD Co. (NYSE:IAG – Get Free Report) (TSE:IMG)’s stock price reached a new 52-week high during mid-day trading on Tuesday after CIBC raised their price target on the stock from $4.90 to $5.40. CIBC currently has a neutral rating on the stock. IAMGOLD traded as high as $4.80 and last traded at $4.79, with a volume of 1010819 shares traded. The stock had previously closed at $4.72.
IAG has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. Scotiabank raised their price target on IAMGOLD from $4.50 to $4.75 and gave the stock a “sector perform” rating in a research note on Monday. Finally, StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.13.
Get Our Latest Research Report on IAG
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Euro Pacific Asset Management LLC lifted its holdings in IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after acquiring an additional 885,697 shares during the period. Virtu Financial LLC boosted its holdings in IAMGOLD by 1,034.3% during the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after buying an additional 309,836 shares in the last quarter. Norges Bank purchased a new stake in IAMGOLD during the fourth quarter worth about $8,642,000. P Schoenfeld Asset Management LP grew its position in IAMGOLD by 11.1% during the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after buying an additional 822,149 shares during the period. Finally, Helikon Investments Ltd increased its holdings in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
IAMGOLD Stock Performance
The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.11 and a beta of 1.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91. The stock’s 50-day moving average price is $3.89 and its 200-day moving average price is $3.51.
IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, equities research analysts expect that IAMGOLD Co. will post 0.33 earnings per share for the current year.
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.
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