Iamgold Corporation (NYSE:IAG) Receives Average Rating of “Moderate Buy” from Analysts

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.25.

A number of equities analysts recently issued reports on IAG shares. Raymond James Financial raised their target price on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $14.00 in a research note on Wednesday, September 10th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, CIBC raised their price target on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th.

Hedge Funds Weigh In On Iamgold

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after purchasing an additional 1,303 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Iamgold by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock valued at $498,000 after buying an additional 1,598 shares in the last quarter. Tsfg LLC purchased a new stake in shares of Iamgold in the 3rd quarter valued at $26,000. Creative Planning lifted its stake in Iamgold by 18.1% during the 3rd quarter. Creative Planning now owns 15,987 shares of the mining company’s stock worth $207,000 after acquiring an additional 2,451 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of Iamgold stock opened at $15.48 on Thursday. The company has a 50 day moving average price of $13.44 and a 200 day moving average price of $10.15. The firm has a market capitalization of $8.91 billion, a P/E ratio of 25.80, a PEG ratio of 0.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.27. Iamgold has a 52 week low of $4.98 and a 52 week high of $15.80.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The company had revenue of $714.61 million for the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. Sell-side analysts expect that Iamgold will post 0.67 EPS for the current year.

About Iamgold

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.