Iamgold (NYSE:IAG) Stock Gets Price Target Trim from Freedom Broker

Iamgold (NYSE:IAG) (TSE:IMG) had its price target decreased by Freedom Broker from $23.00 to $22.00 in a research report report published on Thursday morning,Benzinga reports. Freedom Broker currently has a buy rating on the mining company’s stock.

A number of other equities research analysts have also recently issued reports on IAG. Bank of America decreased their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Scotiabank lifted their price target on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Iamgold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Jefferies Financial Group started coverage on shares of Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Iamgold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.71.

Iamgold Stock Performance

IAG opened at $16.22 on Thursday. The company has a market cap of $9.19 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41. The stock has a 50-day moving average of $19.39 and a 200-day moving average of $17.69. Iamgold has a 52-week low of $10.87 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. The business had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. As a group, equities research analysts forecast that Iamgold will post 1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iamgold

A number of institutional investors have recently made changes to their positions in IAG. Pin Oak Investment Advisors Inc. acquired a new position in shares of Iamgold during the 2nd quarter worth about $28,000. Western Wealth Management LLC acquired a new stake in Iamgold in the 1st quarter valued at approximately $43,000. EverSource Wealth Advisors LLC grew its holdings in Iamgold by 73.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after buying an additional 1,150 shares during the last quarter. IFP Advisors Inc grew 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 valued at $52,000 after buying an additional 813 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Iamgold in the 3rd quarter valued at approximately $66,000. 47.08% of the stock is currently owned by institutional investors.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.