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

Key Points

• Iamgold Corporation has received a consensus recommendation of "Moderate Buy" from nine rating firms, with analysts assigning three hold ratings, four buy ratings, and two strong buy ratings.
• The stock's average twelve-month target price among brokerages is $8.53, while shares currently trade around $7.72.
• Recent institutional activity shows significant investments, with Vanguard Group and American Century increasing their holdings by 1.7% and 19.0%, respectively, indicating growing confidence in the company's potential.

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG has earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.53.

Several analysts have recently issued reports on IAG shares. National Bankshares reissued an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. BMO Capital Markets initiated coverage on Iamgold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price objective for the company in a research report on Monday, June 30th. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, Scotiabank lifted their price target on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th.

Iamgold Stock Performance

Shares of IAG stock opened at $7.72 on Friday. Iamgold has a one year low of $3.55 and a one year high of $8.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.41. The firm's 50 day moving average price is $7.26 and its 200-day moving average price is $6.69. The firm has a market cap of $4.44 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.24 and a beta of 1.08.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). Iamgold had a return on equity of 9.26% and a net margin of 45.42%. As a group, equities research analysts predict that Iamgold will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IAG. Vanguard Group Inc. boosted its holdings in shares of Iamgold by 1.7% in the first quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company's stock valued at $134,764,000 after acquiring an additional 361,608 shares during the period. American Century Companies Inc. increased its holdings in shares of Iamgold by 19.0% in the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock valued at $75,489,000 after acquiring an additional 1,929,787 shares during the period. Millennium Management LLC raised its position in Iamgold by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Iamgold by 21.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock worth $47,818,000 after purchasing an additional 1,637,158 shares during the period. Finally, Invesco Ltd. grew its position in Iamgold by 19.6% during the 1st quarter. Invesco Ltd. now owns 8,536,289 shares of the mining company's stock worth $53,352,000 after purchasing an additional 1,396,354 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other 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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