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

Key Points

• Iamgold Corporation (NYSE:IAG) has received an average recommendation of “Moderate Buy” from ten research firms, with a consensus price target of $8.53.
• Institutional investors hold 47.08% of Iamgold's stock, with notable increases in stakes from firms like Raymond James and Tudor Investment Corp in the last quarter.
• Recently, Iamgold reported an EPS of $0.13 for the quarter, missing estimates by $0.01, with revenues of $587.21 million, below the expected $663.21 million.

Shares of Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG have been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.53.

IAG has been the topic of several analyst reports. Scotiabank lifted their target price on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a research note on Monday, June 30th.

Iamgold Trading Up 1.0%

Shares of NYSE IAG traded up $0.10 during midday trading on Tuesday, reaching $9.53. The stock had a trading volume of 10,233,712 shares, compared to its average volume of 11,728,635. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. Iamgold has a twelve month low of $4.44 and a twelve month high of $9.70. The company's 50 day moving average price is $7.70 and its 200 day moving average price is $6.99. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 0.30 and a beta of 1.21.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The company had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. As a group, sell-side analysts expect that Iamgold will post 0.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IAG. Parallel Advisors LLC raised its holdings in shares of Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock valued at $26,000 after purchasing an additional 2,623 shares during the period. Banque Transatlantique SA bought a new position in Iamgold in the 2nd quarter valued at $26,000. Summit Securities Group LLC purchased a new stake in shares of Iamgold during the 1st quarter valued at $35,000. Tableaux LLC purchased a new stake in shares of Iamgold during the 2nd quarter valued at $61,000. Finally, Alpha Omega Wealth Management LLC purchased a new position in Iamgold in the 1st quarter worth $75,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.