Iamgold Corporation (NYSE:IAG) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have given Iamgold Corporation an average recommendation of "Moderate Buy", with three hold ratings, five buy ratings, and two strong buy ratings among ten analysts.
• Iamgold reported earnings of $0.13 per share for the last quarter, missing estimates, and had a revenue of $587.21 million, below expectations of $663.21 million.
• Large investors have recently increased their stakes in Iamgold, with notable purchases including a 55.7% increase by Amundi, bringing their holdings to approximately 5.34 million shares.

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have earned an average recommendation of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.13.

A number of equities research analysts have issued reports on the company. CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Royal Bank Of Canada upgraded shares of Iamgold from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Finally, Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Iamgold in the first quarter worth approximately $647,000. Ritholtz Wealth Management bought a new stake in shares of Iamgold during the first quarter worth $94,000. Mudita Advisors LLP boosted its stake in shares of Iamgold by 41.1% during the first quarter. Mudita Advisors LLP now owns 2,081,400 shares of the mining company's stock valued at $13,002,000 after purchasing an additional 606,795 shares during the period. Cerity Partners LLC grew its holdings in shares of Iamgold by 28.0% in the first quarter. Cerity Partners LLC now owns 75,250 shares of the mining company's stock worth $470,000 after purchasing an additional 16,475 shares during the last quarter. Finally, Amundi increased its stake in Iamgold by 55.7% in the 1st quarter. Amundi now owns 5,343,801 shares of the mining company's stock worth $34,895,000 after buying an additional 1,911,840 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

IAG stock opened at $12.42 on Friday. The company has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $7.62. Iamgold has a 52 week low of $4.44 and a 52 week high of $12.45. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.14 billion, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 0.40 and a beta of 1.21.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $587.21 million for the quarter, compared to analysts' expectations of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. Analysts anticipate that Iamgold will post 0.67 earnings per share for the current fiscal year.

About Iamgold

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.

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