Iamgold Corporation (NYSE:IAG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $17.75.

IAG has been the subject of several recent analyst reports. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, 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.

Iamgold Stock Performance

IAG opened at $15.60 on Thursday. The company has a market cap of $9.02 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.74 and a beta of 1.25. The stock has a 50-day moving average of $17.89 and a 200-day moving average of $18.24. Iamgold has a 52-week low of $6.69 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. As a group, equities research analysts forecast that Iamgold will post 2.27 earnings per share for the current fiscal year.

Institutional Trading of Iamgold

Hedge funds have recently added to or reduced their stakes in the business. Tsfg LLC bought a new stake in Iamgold during the 3rd quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in Iamgold during the 2nd quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. bought a new stake in Iamgold during the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in Iamgold in the 4th quarter valued at approximately $33,000. Finally, FNY Investment Advisers LLC acquired a new position in Iamgold in the 4th quarter valued at approximately $38,000. 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.