Iamgold Corporation (NYSE:IAG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.25.

Several brokerages have weighed in on IAG. Raymond James Financial upped their price target on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Stifel Canada raised Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Scotiabank upped their target price on shares of Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. CIBC lifted their price target on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th.

Iamgold Price Performance

Iamgold stock opened at $15.48 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.27. Iamgold has a 52-week low of $4.98 and a 52-week high of $15.80. The firm has a market cap of $8.91 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 0.41 and a beta of 1.39. The company’s 50 day moving average is $13.44 and its two-hundred day moving average is $10.15.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. On average, research analysts expect that Iamgold will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Iamgold

Institutional investors and hedge funds have recently modified their holdings of the company. Tudor Investment Corp ET AL raised its stake in Iamgold by 140.5% in the third quarter. Tudor Investment Corp ET AL now owns 24,439 shares of the mining company’s stock valued at $316,000 after buying an additional 14,278 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Iamgold by 71.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 26,214 shares of the mining company’s stock worth $339,000 after acquiring an additional 10,959 shares in the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Iamgold by 8.5% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 230,000 shares of the mining company’s stock valued at $2,972,000 after acquiring an additional 18,000 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Iamgold during the 3rd quarter worth about $238,000. Finally, XTX Topco Ltd acquired a new stake in shares of Iamgold during the 3rd quarter worth about $1,900,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.