Brokerages Set Iamgold Corporation (NYSE:IAG) PT at $17.75

Iamgold Corporation (NYSE:IAG – Get Free Report) (TSE:IMG) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $17.75.

Several research analysts have recently commented on the company. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th.

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Institutional Trading of Iamgold

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Iamgold by 14.0% during the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after acquiring an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Iamgold by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock valued at $15,127,000 after acquiring an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Iamgold by 67.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after acquiring an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Iamgold by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after purchasing an additional 89,197 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Iamgold by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock worth $3,899,000 after purchasing an additional 77,016 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Iamgold Price Performance

NYSE IAG opened at $16.53 on Monday. The company has a market cap of $9.56 billion, a PE ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 1.30. The firm’s 50 day moving average price is $16.89 and its 200-day moving average price is $18.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. Iamgold has a 52-week low of $6.69 and a 52-week high of $24.87.

Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Sell-side analysts forecast that Iamgold will post 2.27 EPS for the current fiscal year.

About Iamgold

(Get Free Report)

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.

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