Shares of Iamgold Corporation (NYSE:IAG – Get Free Report) (TSE:IMG) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.71.
A number of analysts have recently issued reports on IAG shares. Canadian Imperial Bank of Commerce set a $25.00 price objective on Iamgold in a research report on Friday, October 16th. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Scotiabank upped their price objective on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Bank of America dropped their price objective on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Raymond James Financial increased their target price on Iamgold from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Friday, September 4th.
Iamgold Trading Down 1.0%
NYSE:IAG opened at $15.84 on Friday. Iamgold has a twelve month low of $10.87 and a twelve month high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $18.86 and a two-hundred day moving average price of $18.34. The company has a market cap of $8.97 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.39.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, analysts expect that Iamgold will post 1.83 EPS for the current fiscal year.
Institutional Trading of Iamgold
Several large investors have recently bought and sold shares of the business. PenderFund Capital Management Ltd. bought a new position in shares of Iamgold during the 2nd quarter valued at approximately $471,000. Walleye Capital LLC bought a new stake in shares of Iamgold in the second quarter valued at $12,969,000. RFG Advisory LLC bought a new stake in shares of Iamgold in the second quarter valued at $1,146,000. BlackRock Inc. purchased a new position in shares of Iamgold during the 2nd quarter valued at $350,145,000. Finally, Amundi lifted its position in shares of Iamgold by 2.2% during the 2nd quarter. Amundi now owns 3,573,720 shares of the mining company’s stock valued at $56,608,000 after buying an additional 76,545 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.
About Iamgold
IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.
IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.
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