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

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has received an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.75.

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Finally, TD Securities reiterated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th.

Iamgold Price Performance

Shares of NYSE IAG opened at $17.70 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. Iamgold has a 1-year low of $5.35 and a 1-year high of $24.87. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.34 and a beta of 1.33. The business has a 50-day moving average of $20.47 and a 200-day moving average of $16.30.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. On average, equities analysts anticipate that Iamgold will post 0.67 EPS for the current fiscal year.

Insider Activity

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tsfg LLC purchased a new stake in Iamgold during the 3rd quarter worth approximately $26,000. Banque Transatlantique SA purchased a new position in shares of Iamgold during the 2nd quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Iamgold during the fourth quarter worth approximately $30,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold during the fourth quarter worth approximately $33,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Iamgold in the fourth quarter worth $38,000. Hedge funds and other 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.