Iamgold Corporation (NYSE:IAG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $10.13.

A number of equities analysts have recently weighed in on IAG shares. CIBC reiterated an “outperform” rating on shares of Iamgold in a report on Tuesday, July 15th. Raymond James Financial raised shares of Iamgold to a “hold” rating and set a $8.00 target price for the company in a research note on Monday, June 30th. National Bankshares reissued an “outperform” rating on shares of Iamgold in a research note on Tuesday, June 24th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $14.00 in a research report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Saturday, September 27th.

Iamgold Stock Performance

Iamgold stock opened at $13.29 on Friday. The firm has a 50 day simple moving average of $9.62 and a 200-day simple moving average of $7.87. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold has a 1-year low of $4.44 and a 1-year high of $13.37.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. On average, analysts expect that Iamgold will post 0.67 EPS for the current year.

Institutional Trading of Iamgold

Several hedge funds have recently made changes to their positions in IAG. Parallel Advisors LLC raised its position in Iamgold by 272.9% in the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company’s stock worth $125,000 after purchasing an additional 3,020 shares during the period. Measured Wealth Private Client Group LLC increased its holdings in shares of Iamgold by 4.0% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after purchasing an additional 3,396 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Iamgold in the second quarter valued at about $26,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Iamgold by 10.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company’s stock valued at $271,000 after purchasing an additional 3,562 shares during the period. Institutional investors and hedge funds 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.