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

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.8333.

Several analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Iamgold from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Iamgold in a report on Friday, September 4th. Raymond James Financial lifted their price objective on shares of Iamgold from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, Bank of America dropped their price objective 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.

Institutional Trading of Iamgold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAG. Tidal Investments LLC lifted its holdings in shares of Iamgold by 50.8% during the second quarter. Tidal Investments LLC now owns 65,794 shares of the mining company’s stock worth $1,042,000 after purchasing an additional 22,161 shares during the period. RFG Advisory LLC acquired a new position in Iamgold in the 2nd quarter worth approximately $1,146,000. IFP Advisors Inc increased its holdings in Iamgold by 33.2% in the 2nd quarter. IFP Advisors Inc now owns 3,262 shares of the mining company’s stock worth $52,000 after buying an additional 813 shares during the period. Nykredit A S acquired a new position in Iamgold in the 2nd quarter worth approximately $140,000. Finally, Amundi raised its position in Iamgold by 2.2% during the 2nd quarter. Amundi now owns 3,573,720 shares of the mining company’s stock worth $56,608,000 after buying an additional 76,545 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Price Performance

Shares of NYSE IAG opened at $19.49 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market cap of $11.09 billion, a PE ratio of 9.84, a P/E/G ratio of 1.05 and a beta of 1.40. The business has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $17.91. Iamgold has a fifty-two week low of $10.76 and a fifty-two week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, equities analysts expect that Iamgold will post 1.91 EPS for the current fiscal year.

Iamgold Company Profile

Iamgold Corporation is a mid-tier gold mining company headquartered in Toronto, Canada. The company explores for, develops, and operates gold mines, producing gold doré and concentrate for sale to refiners and other customers.

Iamgold’s principal operations include the Essakane mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood complex in Quebec, Canada. Côté Gold is operated through a joint venture with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project and Essakane is an open-pit operation.

Founded in 1990, Iamgold has developed a portfolio of assets in North and West Africa and has historically pursued exploration and development opportunities in additional gold-producing regions.