Iamgold Corporation (NYSE:IAG) Receives $13.44 Consensus PT from Brokerages

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.25.

A number of analysts have commented on IAG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Scotiabank boosted their price objective on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. Finally, Stifel Canada raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th.

Hedge Funds Weigh In On Iamgold

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new position in shares of Iamgold in the 2nd quarter worth approximately $26,000. Parallel Advisors LLC boosted its stake in shares of Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after buying an additional 2,623 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Iamgold in the 1st quarter worth approximately $35,000. Tableaux LLC purchased a new position in shares of Iamgold in the 2nd quarter worth approximately $61,000. Finally, Olympiad Research LP purchased a new position in shares of Iamgold in the 2nd quarter worth approximately $87,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of Iamgold stock opened at $11.88 on Wednesday. Iamgold has a one year low of $4.89 and a one year high of $14.67. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.43 and a beta of 1.24. The business has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $8.59. 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 (NYSE:IAG) (TSE:IMG) last issued 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 company had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. On average, research analysts anticipate that Iamgold will post 0.67 earnings per share for the current fiscal year.

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.