IAMGOLD Co. (NYSE:IAG) Given Average Recommendation of “Hold” by Brokerages

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.00.

A number of analysts have commented on IAG shares. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Scotiabank lifted their target price on IAMGOLD from $3.75 to $4.25 and gave the company a “sector perform” rating in a research report on Monday, May 13th. BMO Capital Markets boosted their price target on IAMGOLD from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, CIBC raised their price objective on IAMGOLD from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday.

IAMGOLD Stock Performance

IAG stock opened at $4.49 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $4.59. The company has a market cap of $2.23 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.46 and a beta of 1.68. The stock’s fifty day moving average price is $3.61 and its 200-day moving average price is $2.89.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The business had revenue of $338.90 million for the quarter. During the same period in the previous year, the business posted $0.05 earnings per share. On average, equities analysts forecast that IAMGOLD will post 0.25 earnings per share for the current year.

Institutional Trading of IAMGOLD

Several institutional investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares during the period. Linscomb Wealth Inc. purchased a new position in shares of IAMGOLD in the first quarter worth $67,000. Donald Smith & CO. Inc. boosted its position in shares of IAMGOLD by 0.8% during the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock worth $120,137,000 after acquiring an additional 298,959 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after acquiring an additional 168,302 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in IAMGOLD during the first quarter valued at $389,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

About IAMGOLD

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.