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

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $17.25.

A number of equities analysts have weighed in on the company. CIBC lifted their price objective on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank lifted their price target on Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Stifel Nicolaus raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Raymond James Financial lifted their target price on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, October 10th.

Institutional Trading of Iamgold

Institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its stake in shares of Iamgold by 7.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 106,882 shares of the mining company’s stock worth $1,766,000 after acquiring an additional 7,421 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Iamgold by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after buying an additional 1,068,465 shares in the last quarter. U S Global Investors Inc. raised its position in shares of Iamgold by 15.0% in the fourth quarter. U S Global Investors Inc. now owns 575,000 shares of the mining company’s stock valued at $9,482,000 after buying an additional 75,000 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Iamgold by 54.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 19,072 shares of the mining company’s stock valued at $313,000 after buying an additional 6,701 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Iamgold by 8.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,329 shares of the mining company’s stock worth $2,798,000 after buying an additional 13,639 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Down 5.2%

Iamgold stock opened at $20.88 on Friday. The stock has a 50-day moving average price of $16.92 and a 200 day moving average price of $12.74. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 0.32 and a beta of 1.38. Iamgold has a 52 week low of $5.02 and a 52 week high of $22.43. 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 (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $714.61 million during the quarter, compared to analyst estimates of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. Sell-side analysts anticipate that Iamgold will post 0.67 EPS for the current 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.