Iamgold Corporation (NYSE:IAG) Given Average Rating of “Moderate Buy” by Analysts

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.00.

A number of analysts have issued reports on IAG shares. Bank of America reduced their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wall Street Zen downgraded shares of Iamgold from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada reduced their target price on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank reduced their target price on Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th.

Institutional Trading of Iamgold

A number of large investors have recently added to or reduced their stakes in the company. Rathbones Group PLC boosted its position in shares of Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after acquiring an additional 418,861,592 shares during the last quarter. FIL Ltd increased its position in Iamgold by 124.0% in the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock worth $600,135,000 after purchasing an additional 20,134,496 shares during the last quarter. Vanguard Group Inc. increased its position in Iamgold by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after purchasing an additional 1,068,465 shares during the last quarter. Bank of America Corp DE raised its stake in Iamgold by 16.4% during the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after purchasing an additional 1,581,064 shares in the last quarter. Finally, Ninety One UK Ltd raised its stake in Iamgold by 22.3% during the fourth quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock valued at $84,835,000 after purchasing an additional 938,855 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Up 4.5%

Iamgold stock opened at $14.55 on Friday. The stock has a market cap of $8.36 billion, a P/E ratio of 8.46, a PEG ratio of 0.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. Iamgold has a 1 year low of $6.70 and a 1 year high of $24.87. The firm’s 50 day moving average price is $15.90 and its 200-day moving average price is $18.17.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. On average, equities analysts predict that Iamgold will post 1.98 earnings per share for the current fiscal year.

Iamgold Company Profile

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.