Iamgold Corporation (NYSE:IAG) Receives Consensus Recommendation of "Moderate Buy" from 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 covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.53.

A number of brokerages have recently weighed in on IAG. CIBC restated an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 target price for the company in a research note on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Scotiabank boosted their price objective on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Finally, Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th.

Institutional Trading of Iamgold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Iamgold during the 2nd quarter worth about $26,000. Parallel Advisors LLC raised its stake 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 worth $26,000 after buying an additional 2,623 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Iamgold during the first quarter worth approximately $35,000. Tableaux LLC acquired a new position in Iamgold in the second quarter valued at approximately $61,000. Finally, Olympiad Research LP bought a new position in Iamgold in the second quarter valued at approximately $87,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Price Performance

Shares of NYSE:IAG traded up $0.45 during trading on Tuesday, reaching $9.91. The stock had a trading volume of 11,417,199 shares, compared to its average volume of 10,944,898. The stock has a market capitalization of $5.70 billion, a PE ratio of 7.13, a P/E/G ratio of 0.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold has a 52 week low of $4.44 and a 52 week high of $9.93. The business's 50-day moving average price is $7.80 and its 200 day moving average price is $7.05.

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