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

Key Points

• Iamgold has a “Moderate Buy” consensus rating among nine analysts: five recommend buying, three rate it a hold, and one gives it a strong-buy rating. The average 12-month price target is $19.20.
• Analyst views were mixed, with Bank of America and RBC lowering their price targets, while Scotiabank raised its target to $23 and maintained a “sector perform” rating.
• Iamgold reported quarterly EPS of $0.42, matching consensus, while revenue of $845.97 million fell short of the $882.92 million estimate. Institutional investors own approximately 47.08% of the company’s stock.

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have been given an average rating of "Moderate Buy" by the nine analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.20.

A number of research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada reduced their target price on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Scotiabank raised their price target on shares of Iamgold from $22.00 to $23.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Iamgold from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings lowered Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th.

Institutional Investors Weigh In On Iamgold

Several large investors have recently bought and sold shares of the stock. Mariner LLC boosted its stake in shares of Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company's stock valued at $1,814,000 after buying an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Iamgold by 1.9% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock worth $612,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock worth $51,000 after buying an additional 1,150 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Iamgold by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock valued at $2,849,000 after acquiring an additional 1,303 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its holdings in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company's stock valued at $5,716,000 after acquiring an additional 1,424 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

IAG opened at $19.09 on Tuesday. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.97 and a beta of 1.32. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average price is $15.94 and its 200 day moving average price is $18.01. Iamgold has a 12-month low of $7.90 and a 12-month high of $24.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, sell-side analysts expect that Iamgold will post 1.91 earnings per share for the current year.

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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