Iamgold Corporation (NYSE:IAG) Receives $8.29 Consensus Target Price from Analysts

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG has received an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.53.

A number of equities analysts recently issued reports on IAG shares. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research report on Friday, March 21st. Scotiabank raised their target price on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. BMO Capital Markets started coverage on shares of Iamgold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday.

Hedge Funds Weigh In On Iamgold

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock worth $26,000 after buying an additional 2,623 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Iamgold during the 1st quarter worth approximately $35,000. Alpha Omega Wealth Management LLC bought a new stake in shares of Iamgold during the 1st quarter worth approximately $75,000. Avantax Advisory Services Inc. bought a new stake in shares of Iamgold during the 1st quarter worth approximately $86,000. Finally, Vident Advisory LLC acquired a new stake in shares of Iamgold in the 1st quarter valued at approximately $92,000. 47.08% of the stock is owned by institutional investors.

Iamgold Stock Performance

NYSE:IAG traded down $0.03 during midday trading on Monday, reaching $7.03. The stock had a trading volume of 13,648,217 shares, compared to its average volume of 11,614,924. The stock has a market capitalization of $4.04 billion, a P/E ratio of 4.98, a PEG ratio of 0.36 and a beta of 1.15. Iamgold has a 1-year low of $3.44 and a 1-year high of $8.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83. The firm's fifty day simple moving average is $7.08 and its 200-day simple moving average is $6.50.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. The company had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. On average, equities research analysts forecast that Iamgold will post 0.67 EPS for the current fiscal year.

Iamgold Company Profile

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.