Iamgold Corporation (NYSE:IAG) Receives $17.75 Consensus Target Price from Brokerages

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.75.

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st.

Iamgold Price Performance

Shares of NYSE:IAG opened at $19.24 on Wednesday. The stock has a market cap of $11.16 billion, a PE ratio of 16.73, a PEG ratio of 1.31 and a beta of 1.46. The company’s fifty day moving average is $20.38 and its 200 day moving average is $17.18. Iamgold has a 52 week low of $6.06 and a 52 week high of $24.87. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. Research analysts anticipate that Iamgold will post 0.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total value of $1,018,970.00. Following the transaction, the director owned 20,000 shares in the company, valued at $657,400. This trade represents a 60.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iamgold

A number of large investors have recently added to or reduced their stakes in the company. World Investment Advisors bought a new stake in Iamgold in the 4th quarter worth $179,000. Voloridge Investment Management LLC grew its holdings in Iamgold by 261.8% in the 4th quarter. Voloridge Investment Management LLC now owns 3,502,469 shares of the mining company’s stock worth $57,756,000 after acquiring an additional 2,534,395 shares during the last quarter. SummitTX Capital L.P. bought a new stake in Iamgold in the 4th quarter worth $195,000. Oxford Asset Management LLP bought a new stake in Iamgold in the 4th quarter worth $855,000. Finally, Orion Resource Partners LP grew its holdings in Iamgold by 5.4% in the 4th quarter. Orion Resource Partners LP now owns 124,438 shares of the mining company’s stock worth $2,054,000 after acquiring an additional 6,375 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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.