Iamgold Corporation (NYSE:IAG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.25.

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday. Scotiabank boosted their target price on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th.

Hedge Funds Weigh In On Iamgold

Institutional investors have recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. purchased a new stake in Iamgold during the fourth quarter worth $30,000. Tsfg LLC acquired a new position in shares of Iamgold in the third quarter worth about $26,000. Global Retirement Partners LLC purchased a new stake in shares of Iamgold during the 4th quarter worth about $33,000. FNY Investment Advisers LLC purchased a new stake in shares of Iamgold during the 4th quarter worth about $38,000. Finally, LOM Asset Management Ltd acquired a new stake in shares of Iamgold during the 4th quarter valued at about $49,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Stock Performance

Shares of IAG opened at $22.71 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. The stock has a 50-day moving average of $18.80 and a two-hundred day moving average of $14.43. The stock has a market cap of $13.42 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.26 and a beta of 1.36. Iamgold has a one year low of $5.02 and a one year high of $23.06.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. As a group, research analysts predict that Iamgold will post 0.67 EPS for the current year.

About Iamgold

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.