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

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.53.

A number of brokerages recently issued reports on IAG. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Scotiabank raised their price target on Iamgold from $7.50 to $7.75 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. Raymond James Financial upgraded Iamgold to a “hold” rating and set a $8.00 price target for the company in a research report on Monday, June 30th. National Bankshares restated an “outperform” rating on shares of Iamgold in a research report on Tuesday, June 24th. Finally, CIBC restated an “outperform” rating on shares of Iamgold in a research report on Tuesday, July 15th.

Institutional Trading of Iamgold

A number of institutional investors have recently bought and sold shares of IAG. Raymond James Financial Inc. bought a new stake in Iamgold in the fourth quarter worth $107,000. Tudor Investment Corp ET AL increased its stake in Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company’s stock worth $98,000 after purchasing an additional 7,359 shares during the period. The Manufacturers Life Insurance Company increased its stake in Iamgold by 4.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 490,296 shares of the mining company’s stock worth $2,538,000 after purchasing an additional 18,679 shares during the period. Bank of America Corp DE increased its stake in Iamgold by 13.2% in the fourth quarter. Bank of America Corp DE now owns 5,817,490 shares of the mining company’s stock worth $30,018,000 after purchasing an additional 680,192 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Iamgold in the fourth quarter worth $365,000. 47.08% of the stock is currently owned by institutional investors.

Iamgold Stock Up 4.2%

NYSE IAG opened at $9.33 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The company has a market capitalization of $5.37 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.30 and a beta of 1.20. Iamgold has a one year low of $4.44 and a one year high of $9.35. The stock has a 50 day moving average price of $7.62 and a 200-day moving average price of $6.96.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, equities analysts predict that Iamgold will post 0.67 EPS for the current fiscal 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.