Brokerages Set Iamgold Corporation (NYSE:IAG) Price Target at $21.33

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has received an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.3333.

A number of brokerages have recently issued reports on IAG. Royal Bank Of Canada dropped their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Raymond James Financial raised their price objective on shares of Iamgold from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Friday, September 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Iamgold in a report on Friday, September 4th. Bank of America dropped their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold in the 2nd quarter valued at about $28,000. Western Wealth Management LLC acquired a new position in Iamgold during the first quarter worth about $43,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Iamgold by 73.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after purchasing an additional 1,150 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of Iamgold by 617.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Iamgold by 33.2% in the second quarter. IFP Advisors Inc now owns 3,262 shares of the mining company’s stock valued at $52,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

NYSE:IAG opened at $19.77 on Friday. The firm’s fifty day moving average price is $17.59 and its 200 day moving average price is $17.96. Iamgold has a 1-year low of $10.76 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 cap of $11.25 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.08 and a beta of 1.40.

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. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The company had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. On average, sell-side analysts expect that Iamgold will post 1.91 EPS for the current year.

Iamgold Company Profile

Iamgold Corporation is a mid-tier gold mining company headquartered in Toronto, Canada. The company explores for, develops, and operates gold mines, producing gold doré and concentrate for sale to refiners and other customers.

Iamgold’s principal operations include the Essakane mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood complex in Quebec, Canada. Côté Gold is operated through a joint venture with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project and Essakane is an open-pit operation.

Founded in 1990, Iamgold has developed a portfolio of assets in North and West Africa and has historically pursued exploration and development opportunities in additional gold-producing regions.