Iamgold Corporation (NYSE:IAG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.75.

A number of equities research analysts have recently weighed in on IAG shares. Scotiabank lifted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday.

Iamgold Price Performance

Shares of NYSE IAG opened at $14.82 on Thursday. The firm has a market cap of $8.56 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.25. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold has a 1-year low of $6.69 and a 1-year high of $24.87. The business’s 50 day moving average is $17.79 and its 200-day moving average is $18.27.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. Equities research analysts predict that Iamgold will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On Iamgold

A number of large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC bought a new stake in shares of Iamgold during the 1st quarter valued at $43,000. Bank of America Corp DE increased its position in shares of Iamgold by 4.7% in the first quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company’s stock worth $180,471,000 after purchasing an additional 434,188 shares during the period. Janus Henderson Group PLC bought a new position in shares of Iamgold in the first quarter worth $13,056,000. EverSource Wealth Advisors LLC raised its stake in Iamgold by 73.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Iamgold by 22.7% in the first quarter. Royal Bank of Canada now owns 4,664,048 shares of the mining company’s stock valued at $87,778,000 after purchasing an additional 862,996 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.