Iamgold Corporation (NYSE:IAG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.25.

A number of research firms have commented on IAG. CIBC upped their target price on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Scotiabank increased their price objective on shares of Iamgold to $23.00 and gave the stock a “sector perform” rating in a research report on Monday. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th.

Iamgold Stock Performance

Shares of Iamgold stock opened at $20.88 on Friday. The business’s 50 day moving average price is $16.92 and its 200 day moving average price is $12.74. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 0.32 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 1.68. Iamgold has a one year low of $5.02 and a one year high of $22.43.

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

Institutional Trading of Iamgold

Several hedge funds have recently modified their holdings of IAG. Pictet Asset Management Holding SA increased its stake in shares of Iamgold by 7.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 106,882 shares of the mining company’s stock worth $1,766,000 after buying an additional 7,421 shares during the period. Vanguard Group Inc. lifted its stake in Iamgold by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after acquiring an additional 1,068,465 shares during the last quarter. U S Global Investors Inc. grew its holdings in Iamgold by 15.0% during the 4th quarter. U S Global Investors Inc. now owns 575,000 shares of the mining company’s stock worth $9,482,000 after acquiring an additional 75,000 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Iamgold by 54.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 19,072 shares of the mining company’s stock valued at $313,000 after purchasing an additional 6,701 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Iamgold by 8.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,329 shares of the mining company’s stock valued at $2,798,000 after purchasing an additional 13,639 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.