Iamgold Corporation (NYSE:IAG) Given Consensus Rating of “Buy” by Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have earned a consensus rating of “Buy” from the ten research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $15.25.

A number of brokerages recently weighed in on IAG. Zacks Research upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. CIBC increased their price target on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial lifted their price objective on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Finally, Scotiabank upped their price objective on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd.

Iamgold Trading Up 0.9%

Iamgold stock opened at $17.19 on Monday. Iamgold has a one year low of $5.02 and a one year high of $17.91. The business’s fifty day moving average is $15.15 and its 200 day moving average is $11.63. The stock has a market capitalization of $10.21 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 0.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. On average, sell-side analysts predict that Iamgold will post 0.67 EPS for the current year.

Hedge Funds Weigh In On Iamgold

Several institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its stake in shares of Iamgold by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after buying an additional 1,303 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Iamgold by 4.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock valued at $498,000 after buying an additional 1,598 shares in the last quarter. Tsfg LLC bought a new position in shares of Iamgold in the 3rd quarter valued at about $26,000. Creative Planning grew its position in Iamgold by 18.1% in the third quarter. Creative Planning now owns 15,987 shares of the mining company’s stock worth $207,000 after acquiring an additional 2,451 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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.