Iamgold (NYSE:IAG) Receives Buy (B) Rating from Weiss Ratings

Key Points

• Iamgold (NYSE:IAG) has received a "buy" rating from Weiss Ratings, reinforcing positive sentiment among analysts despite some mixed ratings from other firms.
• The company's stock recently opened at **$13.39** with a reported market cap of **$7.70 billion** and a consensus target price of **$10.13**.
• Iamgold reported earnings of **$0.13 EPS**, missing estimates, with revenue of **$587.21 million**, highlighting ongoing challenges despite its positive ratings outlook.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG's stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently issued reports on IAG. Zacks Research cut Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 price objective on the stock in a report on Monday, June 30th. CIBC restated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $10.13.

Iamgold Price Performance

Shares of NYSE:IAG opened at $13.39 on Wednesday. The business's fifty day moving average price is $10.01 and its two-hundred day moving average price is $8.02. The stock has a market cap of $7.70 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. 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 one year low of $4.44 and a one year high of $13.99.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. L1 Capital Pty Ltd purchased a new position in Iamgold in the second quarter valued at about $693,000. Marex Group plc purchased a new position in Iamgold in the second quarter valued at about $677,000. State of Wyoming purchased a new position in Iamgold in the second quarter valued at about $201,000. Hollencrest Capital Management purchased a new position in Iamgold in the second quarter valued at about $377,000. Finally, Headlands Technologies LLC purchased a new position in Iamgold in the second quarter valued at about $738,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Iamgold

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.

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