IAMGOLD Co. (NYSE:IAG) Given Consensus Rating of “Moderate Buy” by Brokerages

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.57.

Several research firms have recently weighed in on IAG. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. BMO Capital Markets initiated coverage on IAMGOLD in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Raymond James restated a “market perform” rating and set a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. Finally, Scotiabank lifted their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a research report on Monday, April 14th.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of IAG. Geode Capital Management LLC raised its stake in IAMGOLD by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after purchasing an additional 6,874 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at about $267,000. JPMorgan Chase & Co. increased its holdings in IAMGOLD by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after acquiring an additional 604,259 shares in the last quarter. DGS Capital Management LLC acquired a new stake in IAMGOLD during the 4th quarter valued at $110,000. Finally, Blue Trust Inc. grew its position in IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after acquiring an additional 5,511 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Trading Down 2.2 %

NYSE:IAG opened at $7.03 on Wednesday. The stock has a fifty day simple moving average of $6.32 and a 200 day simple moving average of $5.87. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.85 and a beta of 1.52. IAMGOLD has a 1-year low of $3.44 and a 1-year high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Sell-side analysts forecast that IAMGOLD will post 0.67 earnings per share for the current year.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.