I installed imagemagick 6.1.6.0 and the binaries it installed look like this: $ equery f media-gfx/imagemagick | grep bin /usr/bin /usr/bin/x86_64-pc-linux-gnu-Magick++-config /usr/bin/x86_64-pc-linux-gnu-Magick-config /usr/bin/x86_64-pc-linux-gnu-Wand-config /usr/bin/x86_64-pc-linux-gnu-animate /usr/bin/x86_64-pc-linux-gnu-compare /usr/bin/x86_64-pc-linux-gnu-composite /usr/bin/x86_64-pc-linux-gnu-conjure /usr/bin/x86_64-pc-linux-gnu-convert /usr/bin/x86_64-pc-linux-gnu-display /usr/bin/x86_64-pc-linux-gnu-identify /usr/bin/x86_64-pc-linux-gnu-import /usr/bin/x86_64-pc-linux-gnu-mogrify /usr/bin/x86_64-pc-linux-gnu-montage emerge info follows: Portage 2.0.51-r3 (default-linux/amd64/2004.3, gcc-3.4.3, glibc-2.3.4.20040808-r1, 2.6.10-rc3-y1 x86_64) ================================================================= System uname: 2.6.10-rc3-y1 x86_64 AMD Athlon(tm) 64 Processor 3000+ Gentoo Base System version 1.6.6 distcc 2.18.2 x86_64-pc-linux-gnu (protocols 1 and 2) (default port 3632) [disabled] Autoconf: sys-devel/autoconf-2.59-r5 Automake: sys-devel/automake-1.8.5-r1 Binutils: sys-devel/binutils-2.15.90.0.1.1-r3 Headers: sys-kernel/linux26-headers-2.6.8.1-r1 Libtools: sys-devel/libtool-1.5.2-r7 ACCEPT_KEYWORDS="amd64" AUTOCLEAN="yes" CFLAGS="-O2 -march=k8" CHOST="x86_64-pc-linux-gnu" COMPILER="" CONFIG_PROTECT="/etc /usr/kde/2/share/config /usr/kde/3/share/config /usr/lib/X11/xkb /usr/share/config /var/qmail/control" CONFIG_PROTECT_MASK="/etc/gconf /etc/terminfo /etc/texmf/web2c /etc/env.d" CXXFLAGS="-O2 -march=k8" DISTDIR="/usr/portage-distfiles" FEATURES="autoaddcvs autoconfig noinfo sandbox userpriv usersandbox" GENTOO_MIRRORS="ftp://gg3.net/pub/linux/gentoo" MAKEOPTS="-j2" PKGDIR="/usr/portage-lion/packages" PORTAGE_TMPDIR="/var/tmp" PORTDIR="/usr/portage" PORTDIR_OVERLAY="/usr/portage-maildir /usr/portage-jp /usr/portage-chutz /usr/portage-amd64" SYNC="rsync://rsync.gg3.net/gentoo-portage" USE="amd64 X Xaw3d aalib acl acpi alsa avi berkdb bitmap-fonts bonobo canna cdr cjk crypt cups dga dmx dvd encode fam fbcon flac foomaticdb gdbm gif gimpprint gnutls gpm gstreamer gtk gtk2 gtkhtml guile ieee1394 imagemagick imap imlib ipv6 ipv6arpa java javascript joystick jp2 jpeg junit latex lcms ldap libcaca libg++ libwww live lzo lzw lzw-tiff mad maildir matroska mikmod mng motif moznoirc moznomail mpeg mule multilib mysql ncurses net network nls nntp nogcj offensive oggvorbis opengl pam pdflib perl plotutils png ppds python qt quicktime readline real samba scanner sdl slang sndfile snmp speex spell ssl system-iiimf tcltk tcpd tetex tiff truetype unicode usb userlocales utf8 vim-with-x wmf wxwindows xgetdefault xml xml2 xmms xpm xrandr xv xvid zlib linguas_en linguas_ja"
Alright, it is not only imagemagick. From the packages on my system, alsa-lib, d4x, mysql also suffer from the same problem. As suggested by eradicator on bug #74914 (on a bit unrelated topic), removing $CTARGET from /etc/env.d/gcc/* solved the problem.
this is a bug in an old libtool.eclass remove CTARGET from your /etc/env.d/gcc/* files
