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

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.75.

Several research analysts have recently weighed in on IAG shares. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Finally, Scotiabank boosted their price target on Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th.

Insider Buying and Selling at Iamgold

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the sale, the director owned 20,000 shares in the company, valued at $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IAG. Tsfg LLC bought a new stake in Iamgold in the third quarter valued at $26,000. Banque Transatlantique SA bought a new position in shares of Iamgold during the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Iamgold in the 4th quarter valued at about $30,000. Global Retirement Partners LLC bought a new stake in Iamgold in the 4th quarter valued at about $33,000. Finally, FNY Investment Advisers LLC bought a new stake in Iamgold in the 4th quarter valued at about $38,000. 47.08% of the stock is owned by institutional investors.

Iamgold Trading Down 4.6%

NYSE:IAG opened at $16.11 on Friday. Iamgold has a 52 week low of $5.35 and a 52 week high of $24.87. 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 firm’s fifty day moving average is $20.50 and its 200-day moving average is $16.04. The firm has a market cap of $9.47 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.34 and a beta of 1.33.

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