Analysts Set Iamgold Corporation (NYSE:IAG) Price Target at $19.20

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.00.

IAG has been the topic of several analyst reports. Bank of America reduced their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut shares of Iamgold from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Scotiabank raised their price objective on shares of Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group initiated coverage on shares of Iamgold in a research note on Thursday. They set a “buy” rating and a $24.00 target price on the stock. Finally, Royal Bank Of Canada decreased their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new stake in Iamgold during the second quarter worth $26,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Iamgold during the 2nd quarter worth $28,000. Global Retirement Partners LLC purchased a new position in shares of Iamgold during the 4th quarter worth $33,000. Western Wealth Management LLC acquired a new stake in shares of Iamgold during the 1st quarter worth about $43,000. Finally, Banque Cantonale Vaudoise increased its position in shares of Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after purchasing an additional 2,570 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Price Performance

IAG stock opened at $20.50 on Tuesday. Iamgold has a 1 year low of $8.14 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. The firm has a market capitalization of $11.77 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32. The business has a 50 day simple moving average of $16.18 and a 200-day simple moving average of $17.99.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. Equities research analysts anticipate that Iamgold will post 1.91 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.