Iamgold Corporation (NYSE:IAG) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Iamgold has an average analyst rating of “Moderate Buy” from nine covering firms, with a 12-month price target of $17.75. Ratings currently include three holds, five buys, and one strong buy.
• The company recently reported strong quarterly results, posting EPS of $0.66 versus the $0.52 estimate and revenue of $1.01 billion versus the $955.17 million consensus.
• Insider and institutional activity was mixed: director David Stewart Smith sold 31,000 shares, while hedge funds have been adding positions, and institutions now own 47.08% of the stock.

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have earned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.75.

A number of brokerages recently issued reports on IAG. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Weiss Ratings restated a "buy (b)" rating on shares of Iamgold in a report on Tuesday, April 21st. Scotiabank lifted their target price on Iamgold to $25.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Iamgold in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Iamgold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st.

Insider Transactions at Iamgold

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $657,400. This represents a 60.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Iamgold

Several hedge funds have recently modified their holdings of IAG. Pin Oak Investment Advisors Inc. purchased a new position in Iamgold during the fourth quarter valued at approximately $30,000. Tsfg LLC bought a new position in Iamgold in the third quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new stake in Iamgold during the fourth quarter worth $33,000. FNY Investment Advisers LLC bought a new stake in Iamgold during the 4th quarter valued at $38,000. Finally, LOM Asset Management Ltd bought a new stake in Iamgold during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Trading Up 2.0%

IAG stock opened at $18.71 on Friday. Iamgold has a 12 month low of $6.06 and a 12 month high of $24.87. The firm's 50-day moving average is $19.29 and its 200 day moving average is $17.50. The company has a market capitalization of $10.85 billion, a PE ratio of 10.88, a P/E/G ratio of 0.96 and a beta of 1.26. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.02.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. On average, research analysts anticipate that Iamgold will post 2.24 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.

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