Iamgold Corporation (NYSE:IAG) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Iamgold, with five buy ratings, two strong-buy ratings, and three holds. The average 12-month price target is $21.33, while individual targets range as high as $24.
• Iamgold shares opened at $20.27, up 0.9%, with a market capitalization of $11.54 billion. The stock has traded between $10.76 and $24.87 over the past year.
• The company matched quarterly earnings expectations at $0.42 per share, but revenue of $845.97 million fell short of the $882.92 million analyst consensus. Institutional investors own 47.08% of the stock.

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG has been given an average rating of "Moderate Buy" by the ten research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.3333.

A number of research firms have weighed in on IAG. Wall Street Zen upgraded Iamgold from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Scotiabank lifted their price target on Iamgold from $22.00 to $23.00 and gave the company a "sector perform" rating in a report on Wednesday, August 12th. Bank of America reduced their price target on Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Iamgold in a research note on Friday, September 4th. Finally, Jefferies Financial Group started coverage on Iamgold in a research report on Thursday, August 20th. They set a "buy" rating and a $24.00 price objective on the stock.

Institutional Trading of Iamgold

Institutional investors have recently modified their holdings of the company. Mariner LLC lifted its position in Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company's stock valued at $1,814,000 after acquiring an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Iamgold by 1.9% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock worth $612,000 after purchasing an additional 700 shares during the last quarter. Sigma Planning Corp grew its holdings in Iamgold by 1.9% in the second quarter. Sigma Planning Corp now owns 41,660 shares of the mining company's stock worth $660,000 after purchasing an additional 765 shares during the last quarter. IFP Advisors Inc increased its position in shares of Iamgold by 33.2% during the second quarter. IFP Advisors Inc now owns 3,262 shares of the mining company's stock worth $52,000 after purchasing an additional 813 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock worth $51,000 after purchasing an additional 1,150 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Iamgold Trading Up 0.9%

NYSE IAG opened at $20.27 on Friday. Iamgold has a one year low of $10.76 and a one year high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.40. The company's 50-day simple moving average is $17.52 and its two-hundred day simple moving average is $18.02.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $845.97 million during the quarter, compared to analysts' expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Equities analysts forecast that Iamgold will post 1.91 EPS for the current fiscal year.

About Iamgold

Iamgold Corporation is a mid-tier gold mining company headquartered in Toronto, Canada. The company explores for, develops, and operates gold mines, producing gold doré and concentrate for sale to refiners and other customers.

Iamgold's principal operations include the Essakane mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood complex in Quebec, Canada. Côté Gold is operated through a joint venture with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project and Essakane is an open-pit operation.

Founded in 1990, Iamgold has developed a portfolio of assets in North and West Africa and has historically pursued exploration and development opportunities in additional gold-producing regions.

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