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

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.25.

IAG has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research report on Thursday.

Hedge Funds Weigh In On Iamgold

Several hedge funds have recently modified their holdings of IAG. Royal Bank of Canada raised its position in shares of Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after purchasing an additional 84,939 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Iamgold by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock valued at $15,127,000 after purchasing an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Iamgold by 67.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after buying an additional 404,645 shares during the last quarter. Winmill & CO. Inc. raised its holdings in shares of Iamgold by 1,053.7% in the second quarter. Winmill & CO. Inc. now owns 1,246,000 shares of the mining company’s stock worth $9,158,000 after buying an additional 1,138,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Iamgold by 15.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 245,547 shares of the mining company’s stock worth $1,805,000 after buying an additional 32,413 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of Iamgold stock opened at $22.71 on Tuesday. The company has a market capitalization of $13.42 billion, a PE ratio of 19.74, a P/E/G ratio of 0.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. The company has a 50-day simple moving average of $18.80 and a two-hundred day simple moving average of $14.43. Iamgold has a one year low of $5.02 and a one year high of $23.06.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Research analysts expect that Iamgold will post 0.67 EPS for the current fiscal 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.