Analysts Set Iamgold Corporation (NYSE:IAG) Target Price at $17.75

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.75.

A number of research analysts recently commented on IAG shares. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Scotiabank increased their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Finally, Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iamgold

Institutional investors have recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. acquired a new position in Iamgold in the fourth quarter worth about $30,000. Tsfg LLC acquired a new stake in Iamgold during the third quarter valued at approximately $26,000. Global Retirement Partners LLC bought a new position in Iamgold during the 4th quarter worth approximately $33,000. FNY Investment Advisers LLC bought a new position in Iamgold during the 4th quarter worth approximately $38,000. Finally, LOM Asset Management Ltd acquired a new position in shares of Iamgold in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of IAG stock opened at $16.83 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The company’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $16.18. The firm has a market capitalization of $9.89 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.27 and a beta of 1.32. Iamgold has a 12 month low of $5.35 and a 12 month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. On average, research analysts anticipate that Iamgold will post 0.67 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.