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

Key Points

• Iamgold currently holds a consensus analyst rating of “Moderate Buy”, based on coverage from nine brokerages. The average 12-month price target is $19.00.
• Recent analyst activity has been mixed, with several firms trimming price targets or downgrading views, including Bank of America, RBC, Scotiabank, Weiss Ratings, and Zacks Research. Despite those adjustments, some firms still maintain buy or outperform ratings.
• The company’s latest quarterly results beat expectations, with earnings of $0.66 per share versus the $0.52 estimate and revenue of $1.01 billion versus the expected $955.17 million. Shares recently traded at $14.67, below the consensus target and well under the 52-week high of $24.87.

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG has received a consensus rating of "Moderate Buy" from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $19.00.

A number of research firms have recently issued reports on IAG. Weiss Ratings lowered shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Bank of America decreased their target price on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada lowered their price target on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Scotiabank dropped their price target on shares of Iamgold from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th.

Institutional Trading of Iamgold

A number of hedge funds and other institutional investors have recently modified their holdings of IAG. Mariner LLC raised its holdings in shares of Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company's stock worth $1,814,000 after purchasing an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock valued at $612,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Iamgold by 73.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock valued at $51,000 after buying an additional 1,150 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock valued at $2,849,000 after buying an additional 1,303 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its position in shares of Iamgold by 0.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company's stock valued at $5,716,000 after buying an additional 1,424 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Stock Performance

Shares of NYSE:IAG opened at $14.67 on Friday. The company has a market cap of $8.43 billion, a P/E ratio of 8.53, a PEG ratio of 0.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. Iamgold has a one year low of $6.69 and a one year high of $24.87. The business's 50-day simple moving average is $16.13 and its 200 day simple moving average is $18.26.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. On average, sell-side analysts forecast that Iamgold will post 1.98 earnings per share for the current fiscal 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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