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

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $15.25.

IAG has been the subject of several recent analyst reports. Scotiabank increased their price objective on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. CIBC lifted their price objective 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. Royal Bank Of Canada upgraded shares of Iamgold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $9.00 to $14.00 in a research note on Wednesday, September 10th. Finally, Stifel Canada raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th.

Iamgold Stock Down 0.3%

Iamgold stock opened at $15.79 on Thursday. The company has a fifty day simple moving average of $13.58 and a 200 day simple moving average of $10.37. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. Iamgold has a 1-year low of $4.98 and a 1-year high of $16.38. The company has a market cap of $9.08 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.38.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts anticipate that Iamgold will post 0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Iamgold

Several large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL lifted its position in Iamgold by 140.5% during the third quarter. Tudor Investment Corp ET AL now owns 24,439 shares of the mining company’s stock worth $316,000 after acquiring an additional 14,278 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in 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 purchasing an additional 10,959 shares during the last quarter. Polar Asset Management Partners Inc. lifted its holdings in Iamgold by 8.5% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 230,000 shares of the mining company’s stock worth $2,972,000 after purchasing an additional 18,000 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in Iamgold in the 3rd quarter valued at $238,000. Finally, XTX Topco Ltd acquired a new position in Iamgold in the 3rd quarter valued at $1,900,000. 47.08% of the stock is owned by 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.