Shares of Iamgold Corporation (NYSE:IAG – Get Free Report) (TSE:IMG) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.50.
A number of research analysts have issued reports on IAG shares. Freedom Broker started coverage on Iamgold in a research report on Wednesday, October 7th. They set a “buy” rating and a $23.00 price target for the company. Wall Street Zen cut Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings raised Iamgold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price target on Iamgold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th.
View Our Latest Research Report on IAG
Iamgold Stock Performance
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. The business had revenue of $845.97 million during the quarter, compared to analyst estimates of $882.92 million. On average, equities research analysts forecast that Iamgold will post 1.90 EPS for the current year.
Hedge Funds Weigh In On Iamgold
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Iamgold during the 2nd quarter valued at $350,145,000. Donald Smith & CO. Inc. acquired a new position in shares of Iamgold during the 2nd quarter valued at $206,146,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Iamgold in the 2nd quarter worth $158,877,000. Bank of America Corp DE bought a new stake in shares of Iamgold in the 2nd quarter worth $151,716,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Iamgold in the 2nd quarter worth $53,738,000. Institutional investors own 47.08% of the company’s stock.
About Iamgold
IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. The company’s activities include operating mines, advancing development projects and evaluating mineral properties in established mining regions.
IAMGOLD’s portfolio includes the Essakane gold mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood project in Quebec. Côté Gold is operated through a partnership with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project.
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