Iamgold (NYSE:IAG) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Iamgold (NYSE:IAG) (TSE:IMG) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also recently weighed in on the company. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Scotiabank lifted their price target on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Finally, Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold Price Performance

IAG stock opened at $22.24 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 0.95. Iamgold has a 1 year low of $5.02 and a 1 year high of $23.06. The firm has a 50-day moving average of $18.66 and a 200 day moving average of $14.28. The company has a market cap of $13.15 billion, a P/E ratio of 19.34, a PEG ratio of 0.27 and a beta of 1.36.

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

Institutional Trading of Iamgold

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tsfg LLC bought a new position in shares of Iamgold in the third quarter worth approximately $26,000. Banque Transatlantique SA purchased a new position in Iamgold in the 2nd quarter worth approximately $26,000. Pin Oak Investment Advisors Inc. bought a new position in Iamgold in the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC purchased a new stake in Iamgold during the 4th quarter valued at $33,000. Finally, FNY Investment Advisers LLC purchased a new stake in Iamgold during the 4th quarter valued at $38,000. 47.08% of the stock is currently owned by institutional investors.

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.