Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.55.

A number of research analysts have issued reports on IAG shares. National Bank Financial restated an “outperform market weight” rating on shares of Iamgold Corporation in a research note on Sunday, May 14th. BidaskClub upgraded shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. TheStreet upgraded shares of Iamgold Corporation from a “c-” rating to a “b” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Scotiabank upped their price target on shares of Iamgold Corporation from $5.75 to $6.25 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st.

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Several hedge funds have recently added to or reduced their stakes in IAG. Tocqueville Asset Management L.P. boosted its holdings in shares of Iamgold Corporation by 183.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 6,850,300 shares of the mining company’s stock valued at $35,348,000 after acquiring an additional 4,437,200 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Iamgold Corporation by 496.5% in the 2nd quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock valued at $23,138,000 after acquiring an additional 3,732,543 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Iamgold Corporation by 3.5% in the 1st quarter. Van ECK Associates Corp now owns 85,304,445 shares of the mining company’s stock valued at $341,218,000 after acquiring an additional 2,911,229 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Iamgold Corporation by 560.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,688,430 shares of the mining company’s stock valued at $13,873,000 after acquiring an additional 2,281,226 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Iamgold Corporation in the 1st quarter valued at $8,468,000. 56.35% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Corporation (NYSE IAG) traded up 1.05% during midday trading on Wednesday, hitting $6.71. The stock had a trading volume of 5,429,287 shares. The firm has a market cap of $3.12 billion, a P/E ratio of 6.12 and a beta of -0.40. The stock has a 50-day moving average of $5.57 and a 200-day moving average of $4.68. Iamgold Corporation has a 52 week low of $3.14 and a 52 week high of $6.73.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $274.50 million during the quarter, compared to analyst estimates of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. Iamgold Corporation’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. Analysts forecast that Iamgold Corporation will post $0.03 EPS for the current fiscal year.

About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

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