Brokerages Set Iamgold Corporation (NYSE:IAG) PT at $15.25

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.25.

A number of brokerages have recently issued reports on IAG. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $9.00 to $14.00 in a research note on Wednesday, September 10th. Raymond James Financial increased their price objective on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Wednesday, October 8th. CIBC increased their price target on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th.

Institutional Investors Weigh In On Iamgold

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after purchasing an additional 2,623 shares during the last quarter. Tsfg LLC purchased a new position in shares of Iamgold in the third quarter valued at $26,000. Banque Transatlantique SA acquired a new position in shares of Iamgold during the 2nd quarter worth $26,000. Summit Securities Group LLC purchased a new stake in shares of Iamgold in the 1st quarter worth about $35,000. Finally, Tableaux LLC acquired a new stake in Iamgold in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Up 0.9%

Shares of Iamgold stock opened at $16.04 on Thursday. Iamgold has a one year low of $4.98 and a one year high of $16.38. The company has a market cap of $9.23 billion, a P/E ratio of 26.73, a PEG ratio of 0.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a fifty day moving average of $13.69 and a two-hundred day moving average of $10.47.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. On average, analysts forecast that Iamgold will post 0.67 earnings per share for the current 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.