Iamgold Corporation (IAG) - What Are Analysts Saying About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on IAMGOLD, with six buy ratings, one strong buy, two holds, and one sell. The average 12-month price target is $22.71.
• Recent analyst views were mixed: Freedom Broker lowered its target to $22, while Jefferies initiated coverage with a $24 target and RBC raised its target to $23; Zacks downgraded the stock to “strong sell.”
• Institutional ownership stands at 47.08% after several major investors, including BlackRock and Donald Smith & Co., established new positions. IAMGOLD reported quarterly EPS of $0.42 in line with estimates, although revenue of $845.97 million fell short of expectations.

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have received a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.71.

Several research firms have recently weighed in on IAG. Freedom Broker decreased their target price on Iamgold from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Jefferies Financial Group assumed coverage on Iamgold in a research report on Thursday, August 20th. They set a "buy" rating and a $24.00 price target for the company. Zacks Research cut Iamgold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Canadian Imperial Bank of Commerce set a $25.00 price objective on Iamgold in a research note on Friday, October 16th. Finally, Royal Bank Of Canada raised their price objective on Iamgold from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th.

Institutional Investors Weigh In On Iamgold

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Iamgold in the second quarter valued at about $350,145,000. Donald Smith & CO. Inc. acquired a new stake in shares of Iamgold during the 2nd quarter worth approximately $206,146,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Iamgold during the 2nd quarter valued at approximately $158,877,000. Bank of America Corp DE purchased a new stake in shares of Iamgold during the 2nd quarter valued at approximately $151,716,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Iamgold during the 2nd quarter valued at approximately $53,738,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Down 7.9%

IAG opened at $15.42 on Friday. The company has a market cap of $8.74 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. Iamgold has a twelve month low of $10.87 and a twelve month high of $24.87. The company has a 50-day moving average price of $19.08 and a 200 day moving average price of $18.36. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. The company had revenue of $845.97 million for the quarter, compared to analysts' expectations of $882.92 million. Sell-side analysts expect that Iamgold will post 1.83 earnings per share for the current fiscal year.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD's principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.