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

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have been given a consensus rating of "Moderate Buy" by the eight brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $8.29.

IAG has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Iamgold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Wall Street Zen downgraded shares of Iamgold from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. National Bank Financial upgraded Iamgold to a "strong-buy" rating in a report on Friday, March 21st. Scotiabank raised their target price on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, CIBC lifted their price target on shares of Iamgold from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th.

Iamgold Trading Down 3.6%

IAG opened at $7.27 on Thursday. The firm has a 50 day simple moving average of $7.08 and a 200 day simple moving average of $6.24. Iamgold has a fifty-two week low of $3.44 and a fifty-two week high of $8.38. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 5.15, a price-to-earnings-growth ratio of 0.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, sell-side analysts anticipate that Iamgold will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IAG. Allspring Global Investments Holdings LLC lifted its stake in Iamgold by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock valued at $6,654,000 after acquiring an additional 277,000 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Iamgold by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock valued at $3,615,000 after purchasing an additional 2,848 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Iamgold in the fourth quarter worth $68,000. Leuthold Group LLC boosted its holdings in Iamgold by 55.4% during the fourth quarter. Leuthold Group LLC now owns 876,813 shares of the mining company's stock worth $4,524,000 after purchasing an additional 312,504 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Iamgold during the fourth quarter worth $174,000. 47.08% of the stock is currently owned by institutional investors.

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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