Iamgold Corporation (NYSE:IAG) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• "Moderate Buy" consensus from 10 analysts (6 buys, 3 holds, 1 strong buy) with an average 12‑month price target of $17.75.
• Iamgold beat EPS expectations with $0.70 vs. $0.55 and reported ~$1.08B in revenue, showing a 23.29% net margin and 19.26% ROE; the stock trades around $20.62 with a P/E of ~17.9 and 50‑/200‑day SMAs of $20.35/$17.05.
• Director David Stewart Smith sold 31,000 shares at $32.87 (cutting his stake ~60.8%); insiders own 0.17% of the stock while institutional investors hold about 47.08%.

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG has received a consensus rating of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.75.

IAG has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Iamgold in a research report on Wednesday, February 4th. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wall Street Zen raised Iamgold from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Scotiabank lifted their price target on Iamgold to $25.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Iamgold in a report on Thursday, January 22nd.

Iamgold Stock Performance

NYSE:IAG opened at $20.62 on Wednesday. The company has a fifty day simple moving average of $20.35 and a two-hundred day simple moving average of $17.05. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. Iamgold has a 52 week low of $6.06 and a 52 week high of $24.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. As a group, equities analysts anticipate that Iamgold will post 0.67 earnings per share for the current fiscal year.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $657,400. This represents a 60.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Institutional Trading of Iamgold

Several institutional investors have recently modified their holdings of IAG. Teachers Retirement System of The State of Kentucky lifted its position in Iamgold by 28.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company's stock valued at $7,602,000 after acquiring an additional 130,400 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Iamgold by 11.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company's stock worth $64,645,000 after purchasing an additional 408,800 shares during the last quarter. Waratah Capital Advisors Ltd. grew its holdings in shares of Iamgold by 731.8% during the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company's stock worth $27,328,000 after purchasing an additional 1,859,463 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of Iamgold during the third quarter worth about $96,747,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Iamgold by 381.0% during the third quarter. Gamco Investors INC. ET AL now owns 393,280 shares of the mining company's stock worth $5,084,000 after purchasing an additional 311,510 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

About Iamgold

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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